Category: Macro
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US pending home sales up 1.6% in February
Pending home sales in the United States increased by 1.6% in February compared to the previous month, the National Association of Realtors (NAR) said on Thursday. The Pending Home Sales Index (PHSI) rose to 75.6, marking a 7.0% decrease from the previous year. The Northeast PHSI decreased 0.3% from last month to 63.4, and the…
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US initial jobless claims down 2,000 to 210,000
The number of seasonally adjusted initial jobless claims in the United States tumbled by 2,000 to 210,000 in the week ending March 23, the Department of Labor revealed in its report published on Thursday. The figure came in lower than analysts predicted. The four-week moving average fell by 750 in comparison to the week before,…
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US GDP growth revised up to 3.4% in Q4
The United States gross domestic product (GDP) grew 3.4% year over year in the fourth quarter of 2023, the Bureau of Economic Analysis announced in its third estimate report on Thursday. The reading was higher than the 3.3% registered in the first estimate and the 3.2% reported in the second. “The GDP estimate released today is based on…
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US mortgage applications down 0.7%
Mortgage applications in the United States decreased by 0.7% on a seasonally adjusted basis for the week ending March 22, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey showed on Wednesday. Further details from the report indicate a slight decline in the Purchasing Index, which fell from 146.0 to 145.7 points. The Mortgage Market…
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Fed Maintains Rate Cut Projections, U.S. Stocks Hit Record Highs Amid Growth Optimism
In a significant development that has buoyed the U.S. stock market to record levels, the Federal Reserve has affirmed its stance on rate cuts for 2024, despite witnessing stronger-than-expected economic growth. This announcement comes as a relief to investors who had been adjusting their expectations for the central bank’s easing measures amidst signs of robust…
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Federal Reserve Holds Rates Steady, Market Responds Positively Amid Future Cut Projections
In a move widely anticipated by investors, the Federal Open Market Committee (FOMC) maintained interest rates within the 5.25% to 5.50% range this Wednesday. This decision aligns with the consensus view among market participants and follows the FOMC’s “Dot-Plot” report projections, which indicate an expectation for three 25 basis-point cuts throughout the year. Shortly after…
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US housing starts up by 10.7% in February
Privately‐owned housing starts in the United States saw a monthly increase of 10.7% in February to reach 1,521,000, the US Census Bureau unveiled in its report published on Tuesday. Compared to February 2023, the figure went up by 5.9%. Single-family housing starts rose by 11.6% on a monthly basis to hit 1,129,000. Privately‐owned housing completions…
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Regulatory Proposal Targets Bank ‘Window Dressing,’ Impacting U.S. Funding
Global regulators’ new proposal to adjust the calculation of key risk metrics for major banks could impact their short-term funding operations in the U.S., marking another step in the ongoing push for stricter capital regulations. This initiative targets the end-of-year practice known as “window dressing,” where banks manage their business to minimize the capital surcharge…
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News Highlights : Top Global Markets News of the Day – Wednesday
S&P 500 Hits New Record After Hot Inflation Data All three major indexes closed in the green, led higher by the Nasdaq. Frothy U.S. Stock Market Just Isn’t Crazy Enough to Be a Bubble Artificial intelligence and other sectors are inflated for sure, but to this columnist speculative mania isn’t evident. How China Tried to…
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Global Financial Markets Brace for Key Economic Indicators
Financial markets worldwide are gearing up for a crucial week filled with significant economic updates. In the United States, the spotlight will be on the inflation rate, retail sales, producer inflation, the Michigan consumer sentiment index, and industrial production. Across the pond, the UK will focus on its unemployment rate, industrial production, GDP growth for…