Lowe’s earnings report comes a day after Home Depot’s third quarter earnings beat analysts‘ estimates.
Archiv für den Monat: November 2022
US MBA mortgage applications w.e. 11 November +2.7% vs -0.1% prior
<ul><li>Prior -0.1%</li><li>Market index 205.2 vs 199.9 prior</li><li>Purchase index 169.7 vs 162.6 prior</li><li>Refinance index 367.1 vs 373.1 prior</li><li>30-year mortgage rate 6.90% vs 7.14% prior</li></ul><p style=““ class=“text-align-justify“>A slight bump higher in mortgage activity in the past week, which comes as the average interest rate of the most popular home loan in the US falls back below 7% in a 24 bps dip. That said, overall conditions are still just off their worst since 1997 so this doesn’t really say a lot.</p>
This article was written by Justin Low at forexlive.com.
NATO’s Stoltenberg: No indication that Poland blast was result of a deliberate attack
<ul><li>Poland blast likely caused by Ukrainian air defense missile</li><li>Investigation is ongoing, but it was not Ukraine’s fault</li></ul><p style=““ class=“text-align-justify“>This just reaffirms the earlier finding <a target=“_blank“ href=“https://www.forexlive.com/news/us-officials-say-initial-findings-suggest-missile-may-have-been-fired-by-ukraine-20221116/“ target=“_blank“>here</a>. In any case, I believe this should put an end to the whole geopolitical drama that started from yesterday.</p>
This article was written by Justin Low at forexlive.com.
China government advisers reportedly to recommend modest growth target for 2023
<p style=““ class=“text-align-justify“>The report by Reuters say that China leaders are expected to chart course for next year, prioritise stimulus over reform at the Central Economic Work Conference in December. The officials cited say that „we are not optimistic about the economic situation“ and that „downward pressures are still there even as we make some policy adjustments on COVID“.</p><p style=““ class=“text-align-justify“>That said, they will recommend a modest growth target ranging from 4.5% to 5.5% – which is a pickup compared to this year’s growth at least. The range was one given by four of the advisers cited while one said that „we should set a growth target around 5% for next year“.</p><p style=““ class=“text-align-justify“>Even though China leaders will meet in December to set the growth outlook, it is typically the case that any targets will not be announced until the country’s annual parliament meeting – usually in March.</p>
This article was written by Justin Low at forexlive.com.
ECB’s Visco: The case for less aggressive approach to tightening policy is gaining ground
<ul><li>The need for continued tightening policy is evident</li><li>But case for implementing less aggressive approach is gaining ground</li></ul><p style=““ class=“text-align-justify“>The window is pretty much closing for the ECB but policymakers can surely take in a lot of comfort from the fact that a milder winter could help to ease economic pressures going into next year at least.</p>
This article was written by Justin Low at forexlive.com.
Fed’s George: It would make sense to slow pace of rate hikes next year
<ul><li>Interest rates might have to rise to higher levels to slow the economy</li><li>It would make sense to slow the pace of rate hikes next year to 0.25% increments</li><li>But the real challenge is on the dangers of prematurely ending rate hikes</li><li>We have a lot of work to do</li><li><a target=“_blank“ href=“https://www.wsj.com/amp/articles/bringing-inflation-down-without-a-recession-might-not-be-feasible-fed-official-says-11668571133″ target=“_blank“ rel=“nofollow“>Full interview</a></li></ul><p style=““ class=“text-align-justify“>Taking her other remarks into context, it is not as dovish as it sounds. But what is clear is that Fed policymakers are already looking towards this and that is reason enough for markets to keep with the play from last week – especially if <a target=“_blank“ href=“https://www.forexlive.com/terms/e/economic-data/“ target=“_blank“ id=“ed1b62b3-5e5b-4a70-82dc-4a13e98beda8_1″ class=“terms__main-term“>economic data</a> continues to vindicate such an outlook.</p>
This article was written by Justin Low at forexlive.com.