Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years
It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances. Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinancing...
Kudlow says ‘tax cuts 2.0’ will be unveiled later this year during Trump presidential campaign
National Economic Council Director Larry Kudlow, a top economic adviser to President Donald Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020. “I am still running a process of Tax...
After an Impressive New-Year Rally, What Does 2020 Hold for Gold?
Gold has been on a tear lately, reaching heights not scaled since 2013 to temporarily breach the $1600 an ounce level. However, with risk appetite also riding high on the back of easing trade frictions, and US and Iranian tensions...
AUD/USD Outlook: Aussie Dips Below 200DMA on Concerns of Negative Impact from Trade Deal
The Australian dollar dipped below 200DMA support (0.6890) on Wednesday, after details of US/China trade deal which is going to be signed later today were digested. Concerns that the deal could hurt Australian economy, increased pressure on Aussie and generated...
Swiss Franc Surges after Russian Prime Minister Resigns, Taking Euro Higher
Swiss Franc jumps broadly on political news from Russia today and takes the Euro higher. Yen follow as third strongest on risk aversion as European stocks also dive on the news. Sterling is among the weakest, following weaker than expected...
US producer prices barely rise as services remain subdued
U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this...
The world’s largest hedge fund sees gold rising 30% to $2,000: ‘There is so much boiling conflict’
Ray Dalio, Bridgewater Associates Founder, President & CIO. Anjali Sundaram | CNBC Gold prices, which briefly topped $1,600 last week, could rally to $2,000 an ounce amid heightened political risks, Bridgewater’s co-chief investment officer Greg Jensen told the Financial Times...
Fed could use negative rates if US recession strikes, Goldman Sachs chief economist predicts
U.S. rate-setters could set negative interest rates in the future, despite their own current doubts about the risks of this unconventional measure, Goldman Sachs told CNBC Wednesday. When central bankers implement negative interest rates, it means that banks, for instance,...
EURCHF Tumbles Towards 33-Month Low, Negative Outlook At Play
EURCHF is holding to losses for the third week in a row, dropping to a 33-month low of 1.0758 earlier today. The sharp sell-off has driven the pair beneath the six-month trading range of 1.0810 – 1.1055, turning the outlook...
Sentiments Softer as Tariffs Will Stay after US China Trade Deal Phase One
The forex markets are rather mixed today as traders are holding their bets ahead of signing of US-China trade deal phase one. Sentiments turned softer after US indicated that tariffs will stay in place before conclusion of phase two. But...