New home sales take a hit as builders grapple with big delays and bigger costs
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sales of newly built homes fell more...
Fed sets up panels to examine risks that climate change poses to the financial system
The Federal Reserve has taken another step forward in efforts to ensure that the financial system is protected against climate risks. As the central bank turns its attention increasingly toward the matter, the Fed has created a Financial Stability Climate...
Stocks making the biggest moves midday: Peloton, AstraZeneca, Boeing & more
A Peloton Interactive Inc. logo on a stationary bike at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Microsoft —...
Aussie Falls on Risk-off Mode but Huge US C/A Deficit Weighs on Greenback
The Australian dollar fell to two-week low on Tuesday, pressured by fresh risk-off mode as new Covid lockdowns and worries about vaccination slowdown boost concerns about global growth while a number of countries impose sanctions on China officials, adding to...
NZ Dollar Plunges on Housing Reforms
The New Zealand dollar has plummeted in Tuesday trade. Currently, NZD/USD is trading at 0.7024, down 1.94% on the day. Earlier in the day pair fell as low as 0.7020, its lowest level this year. NZ dollar plunges on new...
Fed’s Kaplan said he expects an interest rate hike in 2022
Dallas Federal Reserve President Robert Kaplan told CNBC on Tuesday he likely will favor an interest rate increase before the end of 2022. Though he doesn’t see inflation becoming a problem anytime soon, the central bank official said he expects...
Yen Rally Accelerates As Selloff in Commodity Currencies Intensifies
Yen buying accelerates today as selloff in commodity currencies intensified. New Zealand Dollar is trading as the worst, by some distance, followed by Aussie. Canadian Dollar is dragged down by decline in oil prices, while Sterling is also pressured after...
Pound Falls as Unemployment Claims Soar
A mixed jobs report is dragging on the pound. The ILO employment report revealed that unemployment unexpectedly ticked lower to 5% in the three months to January, down from 5.1% in December and below the 5.2% expected. The unemployment rate...
WTI Futures Tumble Below SMAs, Posting Negative Correction
WTI futures have come under renewed selling pressure, falling back below the short-term simple moving averages (SMAs) after the pullback off the 62.00 handle. Despite the latest down move, the commodity has not posted a lower low yet, which makes...
AUD and NZD Tumble Following Risk Aversion in Hong Kong and China
Commodity currencies are generally weak in Asian session, together with Sterling. Stocks in Hong Kong and China are reacting negatively to joint sanctions by EU, UK, Canada and US over China’s genocidal treatments of Uyghurs in the Xinjiang region. EU’s...