US Mortgage Applications Surge by 5.4% Amidst Interest Rate Drop
The Mortgage Bankers Association reports a 5.4% increase in US mortgage applications, driven by a surge in refinance activity and a slight drop in interest rates. VA refinance appl...
Economy News
OPEC Stands Firm on 2024 Global GDP Forecast: A Detailed Outlook
OPEC maintains its 2024 global GDP forecast at 3.1%, unchanged from previous predictions. The US, Eurozone, China, and Russia's economic growth forecasts are also discussed, showin...
OPEC Lowers Global Oil Demand Growth Forecast Amid Uncertainty
OPEC has revised its global oil demand growth forecast for 2024 to 1.6 million barrels per day, down from 1.8 million. Total world oil demand is expected to reach 105.5 million bar...
US Crude Oil Inventories Drop by 1.4M Barrels: EIA Report
The EIA reports a 1.4 million barrel drop in US commercial crude oil inventories to 422 million barrels, 6 million below the five-year average. Refinery inputs and crude oil import...
Bank of Canada Slashes Interest Rate to 3.25% Amid Inflation Concerns
The Bank of Canada has reduced its policy rate by 50 basis points to 3.25%, citing inflation concerns and softer growth data. The central bank remains committed to maintaining pric...
US Inflation Climbs to 2.7% in November: Key Insights and Trends
The US annual inflation rate reached 2.7% in November, matching expectations with a 0.3% monthly CPI growth. Energy prices remained stable, while food and core CPI showed slight in...
Australian Unemployment Drops to 3.9% in November: A Closer Look
Australia's unemployment rate dropped to 3.9% in November, with 35,600 new jobs added. Full-time employment saw a significant increase, while part-time employment decreased. The un...
Russian Inflation Surges to 8.9% in November Amid Rising Food and Service Costs
Russia's CPI rose to 8.9% in November, up from 8.5% in October, with food prices jumping 9.8% and services prices surging 11.1% year-over-year.
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