U.S. weekly mortgage applications jump 8.6 percentThe Mortgage Bankers Association (MBA) reported on Wednesday the mortgage application volume in the U.S. surged 8.6 percent in the week ended April 16, following a 3.7 percent drop in the previous week. This was the first increase in seven weeks and the strongest advance since early January. According to the report, refinance applications surged 10.4 percent, while applications to purchase a home rose 5.7 percent. Meanwhile, the average

FXStreet reports that FX Strategists at UOB Group suggest that USD/CNH could drop to the 6.4700 area on a break below 6.4850.24-hour view: “USD subsequently dropped to 6.4885 before recovering. The combination of oversold conditions coupled with waning momentum suggest USD is unlikely to weaken further. For today, USD is more likely to trade sideways between 6.4900 and 6.5150.”Next 1-3 weeks: “We highlighted yesterday that ‘downward momentum has improved, albeit not by all that much’. However,

James Smith, a Developed Markets economist at ING, believes that the UK inflation is set to rise above 2% this year but is more likely to drift lower in 2022, suggesting the pressure on the Bank of England (BoE) to tighten policy again will be fairly modest."UK inflation bounced back to 0.7% in March, after a series of quirks caused an outsized slowdown in headline CPI to 0.4% in February.""More importantly, though, this is really the last reading where we are comparing current prices to pre