Lack of Demand Keeps US Home Building Depressed

The US April home building data, released Tuesday, reflected the lack of buyer traffic and reduced demand that has been in place since mid-March, even as mortgage rates remain near record lows. Construction was labeled as an essential business in most states during the social distancing shutdowns, but without demand builders were reluctant to get […]
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Mosaic Smart Data Launches FX Analysis Service

In conjunction with CLS Group and Japanese bank MUFG, Mosaic Smart Data is launching FXLiquidity, a new analysis service that looks at liquidity levels in foreign exchange markets and aims to provide the FX market FX market with transparency as the market continues to experience high levels of volatility. The data offers graphical views of […]
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Fewer Data Points in Next Week, But Not Less Negativity

After an overflow of data Friday, there is a breather coming in the May 18 week, but that doesn’t mean there won’t be anything for markets and analysts to focus on. Housing data takes up much of the schedule, starting with the National Association of Home Builders’ Housing Market Index for May on Monday. Last […]
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Crisis Continues: US April Retail Sales Down 16.4%

Social distancing continued in April, cutting further in almost every retail sale category, data released Friday morning showed. At the same time, industrial production posted another sharp decline and the May Empire State index reflected further, though shallower, contraction in the hard-hit region. Total retail sales fell by 16.4% to start off the second quarter, […]
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Bank of Canada: Financial System “Resilient” and Coping

Canada’s financial system “remains resilient” in the face of Covid-19 and the oil price shock, with support from Bank of Canada policy, and strong private capital and liquidity buffers, even as the economic outlook remains uncertain, the central bank said Thursday. “Strong policies have put a floor under the economy and laid a strong foundation […]
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US Initial Claims Dips Further

The rate of initial claims growth in the US slowed further in the May 9 week as backlogs are worked down, but there is no indication that the number of people receiving benefits will be pulling back anytime soon. The Labor Department reported Thursday that initial claims fell by 195,000 to 2.981 million in the […]
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Fed’s Powell Warns of Dangers of Long Shallow Recovery

The battle of recovery narratives – swift and sharp versus shallow and long – Wednesday saw one of the main players, the Federal Reserve chief, come down on the side of a protracted challenge to survive. Fed Chair Jay Powell chose a think-tank venue, the Peterson Institute for International Economics, to extend his view to […]
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US April PPI Falls More than Expected

US wholesale prices declined more than expected in April, led by energy prices again, the Labor Department reported Wednesday. The inflation data are all moving in the same downward direction, as sharply lower demand due to social distancing has kept prices depressed at both the wholesale and consumer levels. That trend is likely to continue […]
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US Core CPI Sees Largest Drop Ever

US Consumer prices fell as expected in April, with a plunge in energy prices the key factor due to severely reduced demand for gasoline as consumers stayed off the roads, the Labor Department reported. That was not the entire story, however, as core prices posted their largest monthly decline in history due to severely reduced […]
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WHW: Markets Happy, President Optimistic

The week ended with once again everything that involves the coronavirus falling neatly into place: the stock markets end a stellar string of positive trading days, the president said we don’t even need a vaccine and at least 45 states have some re-openings underway despite the obvious risks. And why not? Because Friday’s jobs report […]
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