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New home sales bounce back in March
Summary New home sales jumped 8.8% to a 693K-unit pace in March, the strongest pace since September 2023. Although the report was accompanied by downward revisions to sales in February, on balance, the pace has strengthened on trend so far to start the year. New home sales should continue to gradual
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AUD/USD Price Analysis: Despite signs this is probably not a bullish reversal
AUD/USD is showing technical bullish reversal signs. The question is, are they enough to indicate a chance of a reversal of the trend? Daily, 4-hour and Weekly charts are analyzed to weigh up the evidence. “The trend is your friend,” traders like to say, and AUD/USD is in a downtrend overall. At the
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Mexican Peso trades mixed as PMIs test health of global economy
The Mexican Peso trades mixed as global Purchasing Manager Indices (PMI) for April are released. Mexican Economic Activity data failed to inject much volatility into the Peso on Monday. The short-term uptrend looks vulnerable to breakdown. The Mexican Peso (MXN) is trading mixed on Tuesday after plu
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EUR/USD gains ground above 1.0650 ahead of Eurozone PMI data
EUR/USD rebounds to 1.0665 amid the modest decline of the US Dollar. Several ECB policymakers favor high-interest rates for longer. Fed's Goolsbee said inflation progress had stalled and the Fed’s current restrictive policy is appropriate. The EUR/USD pair trades on a stronger note around 1.0665 dur
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Fed's Goolsbee: Makes sense to wait to get more clarity before moving
Federal Reserve Bank of Chicago President Austan Goolsbee argued on Friday that it would make sense to wait to get more clarity on the inflation outlook before taking a policy step. Key takeaways "Progress on US inflation has stalled." "Fed's current restrictive monetary policy is appropriate." "Pro
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EUR/GBP outlook: Looks for fresh direction signal
EUR/GBP EURGBP dips in early Thursday’s trading, after a double upside failure at falling 100DMA (0.8572), the lower boundary of strong resistances at 0.8580 zone (including Fibo 38.2% of 0.8714/0.8498 downtrend and a multiple spike highs). Sterling regained ground after being deflated by UK CPI dat
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Silver Price Forecast: XAG/USD rallies to $28.60 with eyes on Middle East tensions
Silver price jumps higher to $28.60, driven by worsening geopolitical tensions. Israel’s response to Iran’s attack will escalate fears of Middle East tensions spreading beyond Gaza. US bond yields edge down despite Fed lean towards higher interest rates for a longer period. Silver price (XAG/USD) ad
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Hidden costs of homeownership: Race, income, and lender differences in loan closing costs
April 2024 Soaring home prices are making homeownership significantly less affordable for American consumers, especially young and first-time homebuyers, with nearly 39 percent of Gen Z hopefuls citing saving for a down payment as their greatest obstacle.1 While down payments are often the focal poi
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WTI falls slightly to $85 as uncertain demand outlook counters Middle East tensions
Oil prices edge down to $85 as Fed Powell’s hawkish guidance cast doubts over global demand outlook. The US warns to levy fresh sanctions on Iran in response to its attack on Israel. Worsening geopolitical tensions will firm the oil price outlook. West Texas Intermediate (WTI), futures on NYMEX, dro
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Pull-up Update