Financial News

U.S. new home sales come below expectations in June, housing sector to rebound modestly and steadily

U.S. new home sales came in below expectations in June. New home sales came in at 610k, as compared with consensus forecast of 615k. The miss in forecast was partially because of a downward revision to earlier data, with net revisions since January reaching -27k.

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FxWirePro: Bullish, bearish scenarios of GBP and CAD Keep check on both swings appending optionality

Bearish GBP scenarios are driven by:

1) Growth slows below 1% as consumers are squeezed by inflation and falling house prices.

2) Outright capital repatriation from slower moving long-term investors including central banks.

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UK Q2 GDP growth sees marginal improvement from Q1, raises downside risks to 2017 GDP outlook

UK economic growth nudged up in the second quarter of 2017 after a “notable slowdown” seen in the first half of the year. Official data for gross domestic product published by the Office for National Statistics (ONS) showed that UK gross domestic product rose 0.3 percent in the three months to June, up slightly from the 0.2 percent rise seen in the previous quarter.

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U.S. Treasuries gain ahead of FOMC policy meeting, 5-year auction

The U.S. Treasuries gained ahead of the country’s 5-year auction, besides the Federal Open Market Committee (FOMC) monetary policy meeting, scheduled to be held today at 17:00GMT and 18:00GMT respectively.

The yield on the benchmark 10-year Treasury, fell 1-1/2 basis points to 2.31 percent, the super-long 30-year bond yields slipped 1 basis point to 2.89 percent and the yield on short-term 2-year note also traded nearly 1 basis point lower at 1.38 percent by 11:40GMT.

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FxWirePro: BRL to extend vulnerability ahead BCBs dovishness Diagonal call ratio spreads on rosy sides

Brazilian central bank is lined up to announce its monetary policy today, following its last rate meeting in late May the Brazilian central bank had signaled that future rate hikes might happen in smaller steps.

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