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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK housing prices unexpectedly dropped in July
In the UK, seasonally adjusted housing prices fell 0.50% on a MoM basis in July, compared to a rise of 0.70% in the previous month. Markets were expecting housing prices to record a rise of 0.60%.
German consumer confidence index remained steady in August
In Germany, the consumer confidence index remained unchanged at -0.30 in August. Markets were expecting the index to record an advance to 1.00.
Fed kept its key interest rate unchanged
The US Fed, in its latest monetary policy meeting, kept its benchmark interest rate unchanged in the range of 0% to 0.25% and indicated that it has made ‘progress’ towards its inflation and employment goals. Also, officials highlighted that the US economic recovery remains on track, despite a rise in coronavirus infections. Further, the Fed stated that it has begun talks around the eventual withdrawal of monetary policy support.
US mortgage applications rose in the week ended 23 July 2021
In the US, mortgage applications advanced 5.70% on a weekly basis in the week ended 23 July 2021, compared to a drop of 4.00% in the previous week.
US goods trade deficit widened in June
In the US, goods trade deficit widened to $91.20 billion in June, compared to a deficit of $89.20 billion in the prior month.
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