An accredited financial and economic news service, specialising in up-to-the-second broadcast reports and headlines
up to the second audio news feed
live press conference feed
fixed income wire service
see what makes the markets move
Following steepest decline since 2015 in March, US existing homes sales are expected to show a rebound in April to a seasonally adjusted annual rate of 5.25 million from 5.21 million previously.
Set for release on Tuesday 20 May at 1400 GMT, a poll of economists forecasts an April gain of 2.7pct from the previous month, which would add to the emerging signals of stabilisation in the housing market.
Weighed lower by an increase in mortgage rates late last year, the National Association of Realtors (NAR) said in March that it expected fewer home sales. However, as the US Federal Reserve adopted a more cautious and patient monetary policy stance, rates have begun to fall.
Lawrence Yun, chief economist at the NAR, notes that while better financing conditions have helped lure buyers into the market, “the impact of lower mortgage rates has not yet been fully realised.” (LiveSquawk – Continue Reading)
A flurry of Fed speakers and any new trade developments could shake up what normally might be a slow week of trading ahead of the three-day Memorial Day holiday weekend.
In the week ahead, Fed Chair Jerome Powell speaks Monday night at the Atlanta Fed’s annual conference on Amelia Island, Fla. and there are about a dozen Fed speakers appearing at various conferences and events.
There are also minutes Wednesday afternoon from the last Fed meeting, where Powell re-emphasized that the Fed was on hold and it did not see low inflation as a big enough reason to cut rates. (CNBC – Continue Reading)
Japan’s economy unexpectedly grew in the first quarter, easing the pressure on the Bank of Japan and the upcoming introduction of another sales tax due in October.
A jump in the preliminary reading for Japanese GDP data for Q1 surprised on the upside, as the economy grew at an annual rate 2.1pct rather than a forecast contraction of 0.2pct, marking Japan’s strongest growth since the April-June term of 2018. This followed a downwardly revised 1.6pct expansion in October-December from a previous reading of 1.9pct.
On a quarter-on-quarter basis, GDP rose 0.5pct, more than the median estimate for a flat quarter-on-quarter print. The previous reading for the last quarter of 2018 was revised down a tick to 0.4pct. (LiveSquawk – Continue Reading)
Politicians from Europe’s mainstream parties called on voters to stand against the far right, after a video sting brought down the leader of Austria’s Freedom Party, hurting the momentum of nationalists days before a European parliamentary election.
Austria’s president called on Sunday for the country to hold a snap general election in September, seen as the quickest timetable possible, after the resignation of Vice Chancellor Heinz-Christian Strache brought down the ruling coalition.
Strache quit on Saturday after video emerged showing him discussing fixing state contracts in return for financial and political favours with a woman posing as the niece of a Russian oligarch. He accepted that the video was “catastrophic” although he denied breaking the law or following through on discussions. (Reuters – Continue Reading)
The impact of the Trump administration’s threats to choke Huawei Technologies Co. reverberated across the global supply chain on Monday, hitting some of the biggest component-makers.
Chipmakers including Intel Corp., Qualcomm Inc., Xilinx Inc. and Broadcom Inc. have told their employees they will not supply Huawei till further notice, according to people familiar with their actions. Alphabet Inc.’s Google cut off the supply of hardware and some software services to the Chinese giant, another person familiar said, asking not to be identified discussing private matters.
The Trump administration on Friday blacklisted Huawei -- which it accuses of aiding Beijing in espionage -- and threatened to cut it off from the U.S. software and semiconductors it needs to make its products. The ban, which had been anticipated, hamstring the world’s largest provider of networking gear and No. 2 smartphone vendor. (Bloomberg – Continue Reading)
Our audience spans the globe, relying on us to filter out the noise to deliver accurate, reliable and timely news
Our journalists and analysts monitor all major newswires, television channels, news websites, blogs and social media platforms for content with market-moving potential. We only broadcast the most relevant news headlines that you need to know. Our analysis and insights rival any of our competitors
We broadcast 24 hours a day from Europe and Asia, Sunday through Friday (except for selected UK holidays). Commentary covers all the main asset classes, including equities, fixed income, FX and commodities