Mortgage rates set another record low, but borrowers take a step back
Record low mortgage rates are clearly not as impressive as they used to be. Even with another new low set last week, mortgage application volume decreased 5.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index....
US Jobs Picture Stabilizing with Renewed Drop in Claims
A decline in initial jobless claims for both regular and PUA benefits alongside a drop in continuing claims suggests the jobs recovery has not gone into reverse. Nevertheless, tomorrow’s payroll report could be wild. Cross-the-Board Improvement in Claims Figures By...
Dollar Stabilizes after Jobless Claims, But No Rebound Yet
Sterling remain remains the strongest one for today, as it’s maintaining post BoE gains. Nevertheless, there is no apparent follow through buying after the initial surge. On the other hand, Dollar appears to be stabilizing mildly, and it’s receiving some...
XAU/USD Analysis: Tests Monthly R1
Yesterday, the XAU/USD exchange rate raised to the resistance level—the monthly R1 at 2,056.09. During Thursday morning, the rate was testing the given resistance. If the predetermined resistance holds, it is likely that a reversal south could occur. In this...
Private payroll growth slows sharply in July amid spike in virus
The move to get displaced workers back to their jobs slowed sharply in July, with private payrolls increasing by just 167,000, ADP reported Wednesday. That total was well below the 1 million expected from economists surveyed by Dow Jones and...
Sterling Lifted after BoE, Dollar Remains the Worst One for the Week
Sterling strengthens generally today after BoE stands pat. Even though investments remained weak, the central offered some optimism in the way that spending recovered significantly. At this point, Euro is the second strongest, followed by Yen. New Zealand Dollar and...
Asia Morning: U.S. Stocks Climber Higher, Dollar Weaker
On Wednesday, U.S. stocks ended again in positive territory, led by blue-chip stocks. The Dow Jones Industrial Average jumped 373 points (+1.39%) to 27201, the S&P 500 gained 21 points (+0.64%) to 3327, and the Nasdaq 100 was up 28...
NZD/USD Momentum Event Triggered
On the U.S. economic data front, the Mortgage Bankers Association’s mortgage applications declined 5.1% in the week ended July 31st after falling 0.8% in the prior week. The ADP research institute’s July jobs report showed a gain of only 167...
Singapore’s largest bank reports 22% fall in quarterly profit as it guards against pandemic-induced risks
The building of DBS, Singapore’s largest bank, at the city state’s central business district. Suhaimi Abdullah | Getty Images News | Getty Images DBS Group Holdings, the largest bank in Singapore and Southeast Asia, reported a 22% fall in second-quarter...
The ballooning money supply may be the key to unlocking inflation in the U.S.
A woman counts U.S. dollar bills. Marcos Brindicci | Reuters With the Federal Reserve and Congress pushing stimulus efforts to new heights, some investors are keeping a close eye on a surge in the U.S. money supply for signs of...
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