July 19, 2022
Housing Starts in US Decline to Lowest Level Since September
New US home construction fell in June to the lowest since September after plunging the prior month, driven by a slide in single-family homebuilding that underscores waning demand.
Residential starts declined 2% last month to a 1.56 million annualized rate, after an upwardly revised 1.59 million pace in May, according to government data released Tuesday. The median forecast called for a 1.58 million pace.
Europe:
EU Signs Deal to Double Azeri Gas Imports in Shift From Russia
Germany will wait at least until Monday to determine whether Russia has cut off gas supply through a key pipeline, a few days after maintenance is due to be completed.
Work on the Nord Stream link is due to end Thursday but it would be too early to ascertain if shipments have fully halted, a person familiar with the process said on condition of anonymity. That would push back any policy move Berlin needs to tackle the crisis that has been building for weeks and is threatening the country’s economy.
Asia:
Singapore Plans to Broaden Crypto Regulations After Shakeout
Singapore will broaden cryptocurrency regulations to cover more activities, joining a worldwide push to clamp down on risks after a series of business failures rocked the industry.
The Monetary Authority of Singapore plans to consult on proposed steps in September or October, Managing Director Ravi Menon said in response to questions after releasing the central bank’s annual report Tuesday. The revised rules may include further tightening retail-investor access to crypto, he added without providing details.
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