The rate for the most common kind of mortgage just surged again. The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily. It is now 164 basis points higher than it was one year ago. “That’s the second time this week, and
GBP/USD trims two days of losses but fails to reclaim 1.3200 amid a positive sentiment The British pound rebounded from intraday losses in the mid-North American session, though it failed to reclaim the 1.3200 mark, courtesy of a risk-on market mood, Fed hawkishness, and Bank of England’s rate hike, with one dissenter, perceived as a
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week NFT creator Yuga Labs raises $450M, bringing company valuation to
The JPY continues to get hit with the USDJPY, and the JPY crosses all pushing higher The USDJPY is now trading above the 122.00 level and has reached a high at 122.12. The price is now moving into the upper extreme area (see post here) The EURJPY has now moved above its 2021 high at
Next week’s US economic calendar starts like but ends with some sizzle. The most important thing to note is that it’s the end of the month and the quarter. We’ve seen some huge moves in bonds and that will spark some associated flows. It’s also fiscal year end in Japan. Here’s what’s coming for US
Gold on Friday was on course for a third weekly gain in four, as the Russia-Ukraine conflict escalated while the spike in oil prices this week increased demand for bullion as a safe-haven asset and an inflation hedge. FUNDAMENTALS Spot gold was up 0.2% at $1,960.84 per ounce, as of 0119 GMT. U.S. gold futures
Yen was once again the runaway loser last week as global benchmark treasury yields, except JGB, surged. BoJ has clearly put a cap in 10-year JGB yield and the result is widening spread and persistent Yen selloff. Euro showing some renewed weakness but it’s so far still range bound against Dollar. Nevertheless, extended decline in
Just 60 years ago, the U.S. and the Soviet Union were at the height of a Cold War that nearly resulted in nuclear warfare. Today, experts say, the U.S. and its old foe, now Russia, are headed into another one. But it won’t be the same. “I think the second Cold War has already started,”
The yellow metal spent the week in positive territory but short of the previous cycle high. Geopolitical issues would keep influencing gold, and any risk-off market mood should benefit precious metals. The energy agreement between the US and EU would make Europe less dependent on Russia’s natural gas. XAU/USD Price Forecast: Upward biased, but failure
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Decentralized finance is one of the fastest-growing sectors of the crypto ecosystem currently with a total locked value of $74.21 billion according to DeFi Pulse. As this sector expands, we are seeing an increase in adoption and financing. Investors are betting on the future of centralized finance with increasing investment in startups such as Cega,
At the end of last week, I made the case for Canadian dollar gains, and I spoke about that on BNNBloomberg on Monday as well. It’s been a great week for that trade, with the loonie up every day. I would be cautious here. A close below 1.2500 would be the lowest this year but
Not all calendars are listing this expected data release. Due at 0130 GMT on Sunday 27 March 2022 Which is 21.30 US ET (9.30pm) on Saturday 26 March 2022 China Industrial Profits for February 2022 prior +4.20% y/y prior +34.3% YTD Of more interest next week will be PMIs from China for March. These will
The fuel pinch continues. Petrol and diesel prices were hiked by 80 paise a litre each today, the fourth such hike in five days as oil firms continued to buckle to global crude pain. Petrol in Delhi will now cost Rs 98.61 per litre as against Rs 97.81 previously while diesel rates have gone up
The Bank of Canada is “prepared to act forcefully” to return inflation to its 2.0% target, said Deputy Governor Sharon Kozicki on Friday, reported Reuters. Additional Remarks: “It’s important to be clear that returning inflation to the 2% target is our primary focus and unwavering commitment.” “The pace and size of rate hikes and the start
The Ministry of Digital Transformation in Ukraine has started an online nonfungible token museum aimed at preserving the timeline of major events starting with the Russian military invading the country. In a Friday tweet, Ukraine’s minister of digital transformation Mykhailo Fedorov said the government launched an initiative with nonfungible token, or NFT, artwork depicting key