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Month: June 2021

The biggest threat to Biden’s hot economy could be his own policies

U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lamarque | Reuters Halfway through 2021, and about six months into the Biden administration, the U.S. economy has by many metrics made a full recovery from the …

The biggest threat to Biden’s hot economy could be his own policiesRead More

AUD/USD: New Virus Spread and Soured Risk Sentiment Keep Aussie Dollar Under Increased Pressure

The Australian dollar remains in red and hit new lowest in over one week on Thursday, following Wednesday’s 0.74% drop. Spread of new coronavirus Delta variant triggered fresh restrictions across Australia that further soured risk sentiment, adding to negative tone. Rising bearish momentum on daily chart, formation of double death-cross (5/200 and 10/200DMA’s) and Wednesday’s …

AUD/USD: New Virus Spread and Soured Risk Sentiment Keep Aussie Dollar Under Increased PressureRead More

EUR/GBP Outlook: Bulls Continue to Struggle at Daily Cloud Base/Bear-Channel Upper Boundary

Near-term action remains limited by daily cloud (spanned between 0.8595 and 0.8633) for the fourth consecutive day, as repeated penetrations into the cloud were so far short-lived. Upside was additionally limited by the upper trendline of bearish channel from 0.8671 (May 25 high) that could generate signal of bull-trap pattern. Bearishly aligned daily studies add …

EUR/GBP Outlook: Bulls Continue to Struggle at Daily Cloud Base/Bear-Channel Upper BoundaryRead More

As housing boom begins to fizzle, weekly mortgage demand falls nearly 7%

Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to the Mortgage Bankers Association’s seasonally adjusted index. That is the lowest level in almost a year and a half. …

As housing boom begins to fizzle, weekly mortgage demand falls nearly 7%Read More