Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Monday morning throws up a quiet schedule with the only highlight in terms of data releases being the publication of US existing home sales.
US existing home sales seen falling
Existing home sales in the US increased 0.6% on a monthly basis and 23.7% on an annual basis in January to a seasonally adjusted annual rate of 6.69 million. January's uptick marks the second successive increase with monthly buying activity varying across regions, while annual activity saw gains in every area. In February markets are looking for an increase of the seasonally adjusted annual rate to decline by 3.0% to 6.5 million. January's report noted that the housing market remained a bright spot during the pandemic with home prices increasing in all tracked metro areas in the last quarter of 2020. Lawrence Yun, NAR's chief economist, expects jobs to return which in turn will boost homebuying in the coming months.
The events calendar throws up a busy schedule on Monday including Fed's Jerome Powell, Tom Barking, Randal Quarles and Michelle Bowman as well as Fed's Mary Daly and ECB's Isabel Schnabel.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.