Treasury Department Announces Details Of Long-Term Securities Auctions

Trading 22 Oct 2020 Commentaire »

The Treasury Department announced the details of this month's auctions of two-year, five-year and seven-year notes on Thursday.

The Treasury revealed it plans to sell $54 billion worth of two-year notes, $55 billion worth of five-year notes and $53 billion worth of seven-year notes.

The results of the two-year note auction will be announced next Tuesday, the results of the five-year note auction will be announced next Wednesday and the results of the seven-year note auction will be announced next Thursday.

Last month, the Treasury sold $52 billion worth of two-year notes, $53 billion worth of five-year notes and $50 billion worth of seven-year notes.


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Eurozone Consumer Confidence At 5-month Low

Trading 22 Oct 2020 Commentaire »

Eurozone consumer confidence weakened more-than-expected to its lowest level in five months in October, preliminary figures from the European Commission showed on Thursday.

The flash consumer confidence index for the euro area dropped to -15.5 from -13.9 in September. Economists had expected a fall to -15.0.

The reading was the weakest since May, when it was at -18.8.

The consumer confidence index for the EU also fell to a five-month low, down to -16.5 from -14.9 in the previous month.

Both readings were below their long-term averages of -11.2 and -10.6, respectively.

Data for the survey was collected from October 1 to 21.

The final reading for the consumer confidence index is set to be released on October 29 along with the monthly economic sentiment survey results.


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U.S. Leading Economic Index Increases At Slower Rate In September

Trading 22 Oct 2020 Commentaire »

Suggesting the U.S. economy could be losing momentum heading into the final quarter of 2020, the Conference Board released a report on Thursday showing a slowdown in the pace of growth by its reading on leading economic indicators.

The Conference Board said its leading economic index climbed by 0.7 percent in September after surging up by a revised 1.4 percent in August.

Economists had expected the index to rise by 0.6 percent compared to the 1.2 percent jump originally reported for the previous month.

The continued increase by the leading economic index was driven primarily by declining unemployment claims and rising housing permits.

"The US economy is projected to expand in Q4, but at a substantially slower rate of 1.5 percent (annual rate) according to The Conference Board's GDP forecast," said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board.

He added, "Furthermore, downside risks to the recovery may be increasing amid rising new cases of COVID-19 and continued labor market weakness."

The report said the coincident economic index crept up by 0.2 percent in September after climbing by 0.8 percent in August.

Meanwhile, the lagging economic index edged down by 0.1 percent in September, matching the dip seen in the previous month.


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U.S. Existing Home Sales Spike Much More Than Expected In September

Trading 22 Oct 2020 Commentaire »

Reflecting record-low interest rates and an abundance of buyers, the National Association of Realtors released a report on Thursday showing a much bigger than expected spike in U.S. existing home sales in the month of September.

NAR said existing home sales soared by 9.4 percent to an annual rate of 6.54 million in September after jumping by 2 percent to a revised rate of 5.98 million in August.

Economists had expected existing home sales to surge up by 5.0 percent to a rate of 6.30 million from the 6.00 million originally reported for the previous month.

"Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season," said Lawrence Yun, NAR's chief economist.

He added, "I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home."

The report said the median existing home price for all housing types was $311,800, in September, up 0.5 percent from $310.400 in August and up 14.8 percent from $271,500 a year ago.

Housing inventory at the end of September totaled 1.47 million units, down 1.3 percent from August and down 19.2 percent from September of 2019.

The unsold inventory represents 2.7 months of supply at the current sales pace, down from 3.0 months in August and down from 4.0 months a year ago.

"There is no shortage of hopeful, potential buyers, but inventory is historically low," Yun said. "To their credit, we have seen some homebuilders move to ramp up supply, but a need for even more production still exists."

NAR also said single-family home sales spiked by 9.7 percent to a rate of 5.87 million in September, while existing condominium and co-op sales jumped by 6.3 percent to a rate of 670,000.

Next Monday, the Commerce Department is scheduled to release its report on new home sales in the month of September.


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*Eurozone October Flash Consumer Confidence -15.5 Vs. -13.9 In September

Trading 22 Oct 2020 Commentaire »

Eurozone October Flash Consumer Confidence -15.5 Vs. -13.9 In September


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Euro Little Changed After Eurozone Consumer Sentiment Index

Trading 22 Oct 2020 Commentaire »

Following the release of Eurozone flash consumer sentiment index for October at 10:00 am ET Thursday, the euro changed little against its major counterparts.

The euro was trading at 123.83 against the yen, 1.0726 against the franc, 0.9030 against the pound and 1.1822 against the greenback around 10:03 am ET.


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Dollar Slightly Up Following U.S. Existing Home Sales

Trading 22 Oct 2020 Commentaire »

Following the release of U.S. existing home sales for September at 10:00 am ET Thursday, the greenback rose slightly against its major rivals.

The greenback was trading at 104.76 against the yen, 1.1819 against the euro, 1.3094 against the pound and 0.9075 against the franc around 10:01 am ET.


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*U.S. Leading Economic Index Climbs 0.7% In September

Trading 22 Oct 2020 Commentaire »

U.S. Leading Economic Index Climbs 0.7% In September


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*U.S. Existing Home Sales Spike 9.4% In September

Trading 22 Oct 2020 Commentaire »

U.S. Existing Home Sales Spike 9.4% In September


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Dollar Steady Ahead Of U.S. Existing Home Sales

Trading 22 Oct 2020 Commentaire »

At 10:00 am ET Thursday, U.S. existing home sales for September will be released. Ahead of the data, the greenback was steady against its major rivals.

The greenback was worth 104.70 against the yen, 1.1827 against the euro, 1.3104 against the pound and 0.9071 against the franc as of 9:55 am ET.


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