LiveWire Economics Blog
LiveWire Economics Blog - November 6, 2009 9:50
Friday (November 6), the Labor Department is expected to release date on October unemployment. Forecasts call for 175,000 job cuts during the month, according to a poll of analysts by Reuters.
With unemployment still at historic highs and the state of the economy still fragile, most top economists expect Federal Reserve Chairman Ben Bernanke to announce Wednesday (November 4) afternoon that the Central Bank is keep its key interest rate at its current low point.
Despite the fact that mortgage applications are falling because of uncertainty about the ongoing potential for first-time home buyer credits, home sales are expected to have risen by 2.6 per cent during September when the report is issued later Wednesday (October 28) morning. This is according to a consensus from Thomson Reuters analysts.
While most banks arenâ€™t currently offering rates at the historically low levels seen earlier this year, overall, mortgage rates are still very affordable. According to bankrate.com, the national average cost for a 30-year fixed rate loan Wednesday (October 21) is 5.23 per cent, compared to 4.99% one week ago.
The same weak dollar that has helped oil break out from a trading range to sit near $77, and gold surge to historic highs well over $1,000, has helped contribute to renewed interest in leveraging other foreign currencies against the greenback.
As gold continues to establish new record levels almost daily (currently above $1,070), oil has finally managed to cruise above the $75 mark thanks in large part to the beaten down dollar. Oil reached as high as $75.15 in midday European electronic trade on the New York Mercantile Exchange, and currently sits at $75, a […]
Regardless of what many economists and analysts have said about the supply and demand reality of oil, the price of a barrel continues to hover around and just over the $70 mark. In noon time European trade on the New York Mercantile Exchange Wednesday (October 7th), benchmark crude for November delivery trades at $71.20, after […]
Just two days after the second quarter gross domestic product report excited analysts and investors, the new jobs report released Friday (October 2nd) has softened hopes that all is rosy on the economic front.