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Do interest rates still matter for housing?

By: New_Deal_democrat

For the last five years, my housing posts have followed a mantra: interest rates lead sales sales lead price price leads inventory And there is data going back to the 1950s in some cases to back up that relationship. Now, that doesn't necessarily mean that causation couldn't run in the reverse direction, for example: low inventory causes prices to rise But the leading/lagging relationship should be intact, as in: high prices (eventually) cause sales to decline after which, prices go down But in the past five years, mortgage rates have had (some, but) little effect on sales. Read more

XE Market Analysis: North America - Apr 19, 2018

By: XE Market Analysis

The dollar has been trading near steady on net, while moderate yen weakness was a theme during the Tokyo session. The pound also came under some pressure following a miss in UK retail sales, and the Australian dollar lifted concomitantly with commodity prices out of post-Australian jobs data lows, subsequently posting a fresh trend high. Read more

XE Market Analysis: Europe - Apr 19, 2018

By: XE Market Analysis

The dollar has been trading near net steady so far today, while yen weakness remained a theme. EUR-USD has settled in the upper 1.2300s, holding below the three-week high seen earlier in the week at 1.2414. USD-JPY edged out a three-session high at 107.51, EUR-JPY a two-month high, just above 133.00, while AUD-JPY managed a to post a four-session peak. Read more

XE Market Analysis: Asia - Apr 18, 2018

By: XE Market Analysis

The dollar dipped in early trade, taking the DXY to 89.45 lows, from a pre-open high of 89.77. A modest USD short covering rally set in ahead of the London close, which lifted the index back to 89.63. There was no data to drive the market, and FX trade overall was subdues. Read more

XE Market Analysis: Bank of Canada Keeps Rates on Hold

By: xemarketanalysis

OVERVIEW Market sentiment remains positive on headlines that US officials met with North Korean leadership. Canadian Dollar falls after BoC Governor is cautious on rate outlook. GBP slides after inflation cools. EUR mixed, inflation revised down. Turkish Lira outperforming after the president announces the early election. HIGHLIGHT UK inflation unexpectedly cooled to 2.5% last month, its lowest level in a year from 2.7% in February, raising some doubts over whether the BoE will raise rates next month. Read more

XE Market Analysis: North America - Apr 18, 2018

By: XE Market Analysis

EUR-USD traded softer, although rebounded sharply from two separate dips below the 1.2350 level. The pair is down from the three-week high posted yesterday at 1.2414. Yesterday's sub-forecast German ZEW survey put a lid on euro buying as the report developing an economic slowdown theme in the Eurozone's engine economy. Read more

XE Market Analysis: Europe - Apr 18, 2018

By: XE Market Analysis

Narrow ranges have mostly prevailed into the London interbank open, with most of the main dollar pairings holding well within their respective ranges from yesterday. This has been seen amid an ongoing recovery rally in global stock markets as trade and geopolitical concerns continued to abate. Read more

XE Market Analysis: Asia - Apr 17, 2018

By: XE Market Analysis

The dollar bounced modestly through the N.Y. morning session on Tuesday, taking its lead from a calmer geopolitical backdrop, better incoming U.S. data, and solid earnings reports. The DXY topped at 89.66, before later pulling back to 89.49 lows. EUR-USD bottomed at 1.2337 after opening near 1.2375, while USD-JPY topped at 107.21, later briefly dipping under 107.00. Read more

XE Market Analysis: UK Unemployment Lowest Since 1975

By: xemarketanalysis

OVERVIEW USD steadies and gains versus European currencies. EUR weakens after ZEW survey. GBP retreats from post-Brexit highs versus Dollar after wage data disappoints. AUD slightly weaker after RBA minutes. HIGHLIGHT UK unemployment fell unexpectedly to 4.2% in February, its lowest level since May 1975 as the economy continues to create jobs, despite slower GDP growth since the Brexit vote. Read more

XE Market Analysis: North America - Apr 17, 2018

By: XE Market Analysis

A dollar softening theme has prevailed , with EUR-USD ascending to three-week highs above 1.2400 and USD-JPY pushing to three-day lows below 107.00. AUD-USD has also turned higher after weakening in the wake of the release of the RBA's minutes to its April policy meeting, which stated that there was no reason to hike rates over the near term, cementing the view that the central bank will likely be on hold through to 2019. Read more

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