U.S. pending home sales in November sat at the same all-time low of 71.6 seen in October (was 71.4), and previously in April of 2020. Analysts now have a third consecutive month with the index below last year’s 75.5 trough in November of 2022. Most real estate gauges are experiencing a winter hit, with various lags, from the steep mortgage… Read more

The DXY has continued to sink, falling to a session low of 100.832. Expectations for Fed rate cuts remains a major driver, with Treasury yields dropping 4 to 8 bps today. Indeed, the buck is below 101 for the first time since mid July when a hawkish Fed policy stance dominated. The dollar has declined against all G10 peers. USD-CHF has dropped… Read more