<ul><li>Prior -4.5%</li><li>Market index 201.1 vs 204.6 prior</li><li>Purchase index 160.4 vs 164.2 prior</li><li>Refinance index 394.6 vs 394.6 prior</li><li>30-year mortgage rate 7.16% vs 6.94% prior</li></ul><p style=““ class=“text-align-justify“>Yikes. The average interest rate of the most popular home loan in the US just rose another 22 bps in the past week to its highest since 2001. This sees another drop in mortgage activity, which is now grinding at its slowest pace since 1997. The latest drop this week in yields will be a welcome development at least but there is little comfort for the housing sector when you look at how things have been going over the past few months.</p><p>/<a target=“_blank“ href=“https://www.forexlive.com/terms/u/us-dollar/“ target=“_blank“ id=“fddda8f4-d5f8-4ee4-8e34-3760ed062f3c_1″ class=“terms__main-term“>US Dollar</a></p>

This article was written by Justin Low at forexlive.com.

<ul><li>At this point, we look for getting to a neutral mode</li><li>In most places, we are not quite there yet</li><li>Central banks have to keep tightening policy, raise interest rates</li><li style=““ class=“text-align-justify“>This is because when inflation runs high, that undermines growth and hits the poorest parts of the population the hardest</li></ul><p style=““ class=“text-align-justify“>As for the IMF’s own projections, she reaffirms that it will take until 2024 for when central banks will only start to see the impact of their actions. Given how bleak the economic outlook may be in some major economies, rate cuts may come well before that. 😬</p>

This article was written by Justin Low at forexlive.com.

<ul><li>Medium-term fiscal plan will now be full ‚autumn statement'</li><li>Has discussed this with BOE governor Bailey, says he understands the reasoning</li><li>Delay is the best way to make sure we take the right decisions</li></ul><p style=““ class=“text-align-justify“>I noted earlier <a target=“_blank“ href=“https://www.forexlive.com/news/hunt-and-bailey-spoke-yesterday-to-reaffirm-boes-independence-20221026/“ target=“_blank“>here</a> how gilts will not like such a delay and we are now seeing yields tick higher with 30-year yields up 11 bps on the day to 3.785% at the moment.</p>

This article was written by Justin Low at forexlive.com.

<p class=“MsoNormal“>From L-R: Winson Cao – Co-founder and Director, ACY
Securities, Ms. Bonnie Shek – Director of Hong Kong Trade Development Council,
Australia and New Zealand.</p><p class=“MsoNormal“>ACY Securities,
one of the world’s leading tech-focused multi-asset CFD brokers, has recently
won the Business Excellence Award presented by the Hong Kong Australia
Business Association (NSW Chapter).</p><p class=“MsoNormal“>The award is
the most recent addition to the string of accolades given to ACY Securities
over the past few years.</p><p class=“MsoNormal“>In receiving
the award, Winson Cao, Co-founder and Director at ACY Securities, said “It’s an
honour to be recognised for our vision and mission to deliver the best service
and trading platform to our clients.”</p><p class=“MsoNormal“>He added,
“You can be assured that as we continue to build and grow ACY Securities as a
leading global player, we will adhere to the strategies and focused
implementation that’s been the guiding principle for our business.”</p><p class=“MsoNormal“>Now on its 23rd anniversary,
the HKABA NSW Chapter Business Awards is an annual celebration that recognizes
the entrepreneurial spirit and achievements of both small and medium
enterprises and corporations in all aspects of international trade affiliations
between New South Wales and Hong Kong Special Administration Region (HKSAR).</p><p class=“MsoNormal“>The HKABA
NSW Chapter 2022 Business Awards have three award categories:</p><p class=“MsoNormal“>• Best
Initiative</p><p class=“MsoNormal“>• Business
Excellence</p><p class=“MsoNormal“>• Export /
Import Excellence</p><p class=“MsoNormal“>Jack Fan,
Executive Officer at HKABA said, “We had a strong line up of competitive
companies that vied for this year’s award. And it’s been a privilege to be in
the company of distinguished businesses and entrepreneurs. I know that this
year’s awardees will continue to excel and shine as they grow their respective
businesses.”</p><p class=“MsoNormal“>The HKABA winners
were selected by an independent judging panel chaired by Ms. Bonnie Shek, Director
of Hong Kong Trade Development Council, Australia and New Zealand. She was joined
by Dr. Luca De Leonardis, Head of Investment Promotion, Australia & New
Zealand of Invest Hong Kong; and Ms. Karen Macmillan, Director of Hong Kong
Tourism Board, Australia.</p><p>About
ACY Securities</p><p class=“MsoNormal“>ACY
Securities is one of Australia’s fastest growing multi-asset online trading
providers, offering ultra-low-cost trading, rock-solid execution,
technologically superior account management and premium market analysis. The
key pillars we operate on are transparency, client-focus and technology. With a
track record of servicing clients since 2011, we are well-positioned to look
after your trading needs.</p>

This article was written by ForexLive at forexlive.com.

<p style=““ class=“text-align-justify“>How quickly things can change. As we got into Friday trading last week, the dollar was in a firm position all before some dovish Fed talk came in and things swung back the other way around. Fast forward to today and that reversal momentum has intensified with the dollar technicals falling apart against the major currencies.</p><p style=““ class=“text-align-justify“>EUR/USD has moved up to 1.0035 and above parity for the first time in five weeks as noted <a target=“_blank“ href=“https://www.forexlive.com/news/eurusd-hits-parity-for-the-first-time-in-five-weeks-20221026/“ target=“_blank“>here</a> while GBP/USD is up over 100 pips on the day as it comes up for air in a push to 1.1580. I pointed out some technical considerations for the latter <a target=“_blank“ href=“https://www.forexlive.com/news/cable-looks-to-come-up-for-air-as-dollar-loses-further-ground-20221026/“ target=“_blank“>here</a>. Meanwhile, USD/JPY is now tracking below 148.00 in a push to fresh lows since Monday:</p><p style=““ class=“text-align-justify“>This comes as Treasury yields are sliding further, with 10-year yields now down 8 bps to 4.03%. As mentioned earlier, that is a far cry from the peak on Friday at 4.335% – which came before all the dovish Fed talk. The rally in bonds yesterday translated to dollar selling and we are seeing more of that now in European trading.</p><p style=““ class=“text-align-justify“>Elsewhere, AUD/USD is up 1.4% against the dollar to 0.6485 and is looking for a push towards 0.6500 next:</p>

This article was written by Justin Low at forexlive.com.