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On January 10th, Trump stated on social media that mortgage rates have now dropped to 5.7%! He explained that mortgage costs during Bidens presidency were extremely high (approximately 8%), making homeownership unaffordable for almost any young family. Through his housing affordability policies and after authorizing Fannie Mae and Freddie Mac to use cash to purchase $200 billion in mortgage-backed securities, mortgage rates have fallen to 5.7%. This is a significant benefit for American families, providing substantial relief. He emphasized that they are lowering housing costs and putting Americans first!Conflict Status: 1. Ukraine claims Russian drones launched a large-scale airstrike on Kyiv. 2. Ukrainian Air Force: Russia launched a hypersonic medium-range ballistic missile from Kapustin Yar. 3. Russia launched 36 missiles and 242 drones at critical Ukrainian infrastructure in Fridays attacks. 4. Ukrainian President Zelensky: The Hazel missiles launched by Russia "clearly" approached the EU border. 5. Ukrainian officials: The Russian Hazel missiles that attacked Ukrainian facilities were not carrying warheads. 6. In retaliation for the attack on Putins residence, the Russian military used Hazel missiles to strike Ukraine. Peace Talks Status: 1. Ukrainian President Zelensky stated that Russia has no respect for the United States and all diplomatic means. 2. According to RIA Novosti: Four members of the Russian State Duma (lower house of parliament) were recently invited by the United States to Washington to hold talks with US lawmakers on the Ukraine issue and other matters. Other Status: 1. Trump stated his support for the sanctions bill against Russia. 2. German Chancellor: A European "multinational force" would need Russias consent to station troops in Ukraine. 3. The Ukrainian Embassy in the US stated that Ukrainian citizens were on board the Russian oil tanker detained by the US. 4. Ukraine awarded development rights for a large lithium mine to a close friend of Trump. 5. Zelenskyy signed a presidential decree reshuffling the members of the Ukrainian Supreme Command. 6. A NATO spokesperson stated that on Friday, NATO Secretary General Rutte and US Secretary of State Rubio spoke about the importance of the Arctic to NATOs shared security. 7. Zelenskyy stated that Trump should reach a free trade agreement with Ukraine.January 10th - According to a TASS report on the 9th, citing the press office of the Russian Northern Fleet, Tu-142MK anti-submarine aircraft belonging to the Northern Fleet recently completed aerial refueling over the Arctic, a first in Russian naval history. The report stated that several Tu-142MK anti-submarine aircraft conducted a special flight mission during a Russian naval exercise. The aircraft completed aerial refueling over the Arctic Ocean en route to a remote Arctic region, with a total flight time of approximately 30 hours. The Northern Fleet press office said that this flight mission confirmed the capabilities of the Tu-142MK anti-submarine aircraft and verified the feasibility of performing anti-submarine defense and surface surveillance missions in the Arctic region.U.S. Treasury Secretary Bessenter: Any tariff refunds could be rolled out gradually over weeks, months, or even a year.U.S. Treasury Secretary Bessenter: The goal of mortgage repurchase agreements is to roughly match the size of maturing mortgage-backed securities (MBS) on the Federal Reserves balance sheet.

0.8450 is being reached by EUR/GBP as the prospect of a UK recession looms

Daniel Rogers

Aug 05, 2022 14:46

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Following a huge upward rise from 0.8360 on Thursday, the EUR/GBP pair has subsequently turned sideways around 0.8430 in the Tokyo session. After the Bank of England (BOE) hiked interest rates by 50 basis points, the cross displayed a significant upward rise (bps) (bps). The BOE lifted interest rates by 50 basis points in succession, bringing them to 1.75 percent.

 

The investing community is aware that UK household earnings have been unsteady during the preceding few months. In addition, the economy's inflation rate is fast expanding. The inflation rate was 9.4 percent prior. The recent statement by BOE Governor Andrew Bailey that price increases might exceed 13 percent has sent shockwaves across the market.

 

The runaway inflation is now escalating, leaving the BOE with very little flexibility to tighten its monetary policy. The BOE is in poor shape as a result of the dismal economic data and the continuing political upheaval following the departure of UK Prime Minister Boris Johnson. A recession in the UK economy is extremely probable in the case that the inflation rate is close to 13 percent.

 

German manufacturing order numbers for the Eurozone have decreased by 0.4 percent against an anticipated 0.8 percent decline and a prior monthly contraction of 0.2 percent. Falling orders from factories indicate sluggish demand in Germany as a whole. It is vital to remember that Germany is a key element of the European Union (EU), and that economic data from Germany has a huge effect on people who favor the common currency.


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