As of late last week, the average contract interest rate for a 30-year fixed-rate mortgage rose by 10 basis points to 7.01%, soaring to the highest level in five weeks according to the Mortgage Bankers Association data.
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Markets were awry yesterday as the US inflation accelerated more than expected to 3.5% in March, compared to 3.2% in February and forecasts of 3.4%.
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The pound strengthened a little yesterday, gaining around a quarter of a percent on the euro and US dollar, to its highest point against the euro for a week. It’s all revving up in the starting grid for…
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We haven’t talked too much about the UK this week, but it’s hard to overstate how important Friday’s GDP figures are. There’s a sense of anticipation building already and that’s only likely to grow (and affect currency markets)…
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In a research note published yesterday, analysts at TD Securities said they expected the ECB’s Christine Lagarde to be less forceful at Thursday’s interest rate press conference. Lagarde already signalled pretty clearly that she expected rates to be…
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Markets have been steadily scaling back their bets on rate cuts from the Federal Reserve this year. According to the data, there’s now a 50% chance that there will be three cuts in 2024, down from between six…
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Currency markets have been unusually quiet to begin this week but some juicy economic events promise to shake things up.
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US inflation figures on Wednesday will be the key test for the US dollar this week, particularly after last week’s jobs data. Analysts are expecting inflation to fall slightly to 3.7%, but the spotlight will be intense, which…
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