The dollar is down against its major European rivals this afternoon, but has trimmed its early losses. The U.S. currency is also modestly higher against the Japanese Yen ahead of tomorrow’s announcements from both the Bank of Japan and the Federal Reserve.
The Fed is widely expected to leave interest rates unchanged, but traders are likely to keep a close eye on the accompanying statement for clues about the outlook for the next meeting in June.
Meanwhile, U.S. economic data was weaker than expected across the board this morning. New orders for U.S. manufactured durable goods increased by less than expected in the month of March, the Commerce Department revealed in a report released on Tuesday. The Commerce Department said durable goods orders climbed by 0.8 percent in March after tumbling by a revised 3.1 percent in February.
Economists had expected durable goods orders to increase by 1.6 percent compared to the 2.8 percent drop originally reported for the previous month.
Home prices in major U.S. metropolitan areas increased at a slower annual rate in the month of February, according to a report released by Standard & Poor’s on Tuesday.
The report said the S&P/Case-Shiller 20-city composite home price index was up 5.4 percent year-over-year in February, down from 5.7 percent in January. The pace of growth had been expected to slow to 5.5 percent.
Consumer confidence in the U.S. deteriorated by much more than expected in the month of April, the Conference Board said in a report on Tuesday. The Conference Board said its consumer confidence index dropped to 94.2 in April from a revised 96.1 in March.
Economists had expected the index to edge down to 96.0 from the 96.2 originally reported for the previous month.
The dollar fell to a low of $1.1339 against the Euro Tuesday morning, but has since bounced back to around $1.1290.
The buck dropped to a 2 1/2 month low of $1.4638 against the pound sterling Tuesday, but has since rebounded to around $1.4580.
U.K. housing market was boosted by the buy-to-let and second home buyers, who pushed gross lending to its highest level in eight years in March, ahead of a hike in the new stamp duty this month, raising fears that activity may ease sharply as the “Brexit” referendum nears.
Gross mortgage borrowing jumped 64 percent year-on-year to GBP 17.1 billion in March, which was the highest figure since April 2008, the British Bankers’ Association said Tuesday. Mortgage borrowing for house purchase at GBP 11.5 billion was 90 percent higher than a year ago.
Meanwhile, home loan approvals unexpectedly declined for a second straight month to their lowest level in three months in March. The number of loans approved for house purchase dropped to 45,096 from a revised 45,646 in February.
Economists had forecast 47,000 approvals for March. Nevertheless, approvals were 14 percent higher than a year ago.
Expectations that the Bank of Japan will help banks lend by offering a negative rate on some loans are rising.
The greenback has climbed to around Y111.320 against the Japanese Yen this afternoon, from an early low of Y110.664.
It’s in point of fact a great and helpful piece of info.
I am happy that you shared this useful information with us.
Please keep us up to date like this. Thanks for sharing.
I like the valuable information you provide in your articles. I’ll bookmark your weblog and check again here frequently. I am quite certain I’ll learn lots of new stuff right here! Good luck for the next!
Does your blog have a contact page? I’m having a tough time locating it but,
I’d like to send you an e-mail. I’ve got some recommendations for your blog you might be interested in hearing.
Either way, great blog and I look forward to seeing it grow over
time.
Heya fantastic blog! Does running a blog like this take
a large amount of work? I’ve no expertise in coding however I was hoping to start my own blog in the near
future. Anyhow, if you have any ideas or tips for new blog owners please share.
I know this is off subject but I simply had to ask.
Appreciate it!
This article is actually a fastidious one it helps new the web people, who are wishing in favor of blogging.
Hi there, I discovered your web site by means of
Google at the same time as searching for a comparable
matter, your website got here up, it seems good.
I have bookmarked it in my google bookmarks.
Hi there, just turned into alert to your blog thru Google, and located that it’s
really informative. I am going to watch out for brussels.
I’ll appreciate should you continue this in future. Many
folks will probably be benefited from your writing. Cheers!
Hey! This is kind of off topic but I need some guidance from an established blog. Is it difficult to set up your own blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about making my own but I’m not sure where to begin. Do you have any tips or suggestions? Cheers
Fantastic blog! Do you have any tips for aspiring writers?
I’m planning to start my own blog soon but I’m a little lost on everything.
Would you suggest starting with a free platform like
Wordpress or go for a paid option? There are so many options out there that I’m totally confused ..
Any tips? Appreciate it!
Thank you for another wonderful post. Where else could anybody get that kind of
info in such a perfect manner of writing? I’ve a presentation next week, and I
am at the look for such info.
Hello to all, how is everything, I think every one is getting more from
this website, and your views are good in favor of new visitors.