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Daily Market Outlook - Tuesday, March 19
Article By:
Patrick Munnelly
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Tuesday, March 19, 2024 5:19 AM EDT
Asian stock markets are predominantly lower on Tuesday as traders adopt a cautious stance after monetary policy announcements from the Reserve Bank of Australia and the Bank of Japan.
FX Daily: BoJ Lift-Off Underwhelms The Yen
Article By:
ING Economics
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Tuesday, March 19, 2024 4:55 AM EDT
The Bank of Japan has finally ended its eight-year reign of negative interest rates and shifted to a more conventional policy of targeting short-term interest rates.
Immigration 2021-23: Supply And Demand Shock
Article By:
Menzie Chinn
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Tuesday, March 19, 2024 3:00 AM EDT
Recent studies suggest that Census data used for the household survey of the employment report understated immigration in 2023.
Reserve Bank Of Australia Drops Its Tightening Bias
Article By:
ING Economics
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Tuesday, March 19, 2024 1:00 AM EDT
The Reserve Bank of Australia (RBA) is still not ruling out hikes, but it has moved to a more neutral setting as far as its guidance is concerned.
EUR/JPY Gains Momentum Above 162.70 As BoJ Ends Negative Interest Rate Era
Article By:
Lallalit Srijandorn
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Tuesday, March 19, 2024 12:40 AM EDT
The EUR/JPY cross gains traction above the mid-162.00s during the Asian trading hours on Tuesday. The cross drifts higher after the Bank of Japan decided to end a negative interest rate era that began in 2016, in line with market expectations.
Bank Of Japan (Finally) Kills The World's Last Negative Interest Rate, Yen Weakens
Article By:
Tyler Durden
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Tuesday, March 19, 2024 12:20 AM EDT
As has been thoroughly warned, straw-manned, leaked, and hinted at over the past few weeks, The Bank of Japan hiked interest rates tonight for the first time since 2007. This move ends the world's last negative interest rate policy.
In this article: FXY
March FT-Booth Macroeconomists Survey: GDP, Recession, R*
Article By:
Menzie Chinn
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Monday, March 18, 2024 11:20 PM EDT
The FT-Booth Macroeconomist Survey was released today. GDP is slated to grow 2.1% in 2024, q4/q4.
GBP/USD Attracts Some Sellers Below The Mid-1.2700s, All Eyes On Fed, BoE Rate Decision
Article By:
Lallalit Srijandorn
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Monday, March 18, 2024 7:46 PM EDT
The GBP/USD pair remains under some selling pressure during the early Asian session on Tuesday. The uptick in the US Dollar (USD) above 103.50 and higher US yields provide some support to the major pair.
Homebuilder Sentiment Back To Expansion
Article By:
Bespoke Investment Group
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Monday, March 18, 2024 5:20 PM EDT
Earlier today, the National Association of Home Builders published its March reading on homebuilder sentiment.
Gold Shines As Homebuying Affordability Hits A Record Low
Article By:
Frank Holmes
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Monday, March 18, 2024 4:32 PM EDT
A multitude of factors, including soaring home prices, elevated interest rates and persistent inflation, has created the perfect storm, making homeownership a distant reality for more U.S. residents.
Austin Is Reeling, But What Does That Mean For Housing And Rent Nationally?
Article By:
Mish Shedlock
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Monday, March 18, 2024 4:11 PM EDT
Once hot Austin is in reverse. Home prices have fallen more in Austin than anywhere in the U.S. Even rents are weak. Don’t make too much of it nationally. Commercial Real Estate is the big national problem.