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Daily Roundup of Key US Economic Data for July 22

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The Mortgage Bankers Association reported a 1.9% increase in mortgage applications in the week ended July 17 after a 2.7% decrease in the previous week, with refinancing activity lower and new home applications higher despite the highest mortgage rates since August.

Total crude oil inventories fell by 3.0 million barrels in the week ended July 17, with commercial oil inventories up 2.0 million barrels and stocks in the US Strategic Petroleum Reserve down 5.1 million barrels. Gasoline inventories and distillate inventories both increased last week.

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Market Chatter: Fitch Raises Taiwan's Growth Projection for 2026, 2027 on Sustained AI Demand

Fitch Ratings raised its forecast for Taiwan's economic growth this year to 9.4% and increased its 2027 projection to 4.8% from 4%, citing sustained investment and strong demand for AI-related products, Focus Taiwan reported Tuesday.At the media briefing, the rating agency also reaffirmed Taiwan's AA sovereign rating with a stable outlook, reflecting its strong external finances, prudent fiscal management and competitive business environment, the report said.Fitch said Taiwan's advanced manufacturing and semiconductor industry should continue to underpin exports and growth, although its export-driven economy remains exposed to external shocks and cross-strait tensions, according to the report.The agency flagged weaker growth among major trading partners, softer global AI demand and heightened geopolitical risks as key downside risks, while warning that high energy costs could continue to weigh on utilities and energy-intensive industries, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Market Chatter: Tokyo New Condo Prices Top 100 Million Yen for First Time in H1 2026

The average price of a new condominium in Tokyo and three surrounding prefectures surpassed 100 million yen for the first time in the first half of this year, jumping 13.1% on-year to a record 101.35 million yen, Nikkei Asia reported Tuesday, citing data from the Real Estate Economic Institute.Higher construction costs drove prices upward in the January-June period. Prices in central Tokyo rose 9.1% to 142.49 million yen, while those in Chiba surged 56.8% to 89.97 million yen. Prices in Kanagawa rose 20% to 83.46 million yen, while those in Saitama fell 1.3% to 64.69 million yen, the report said.New condo listings in Tokyo and the neighboring prefectures declined 0.8% to 7,989 units, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nikkei 225
International

India's Central Bank Proposes Overhaul of Foreign Investment Rules

The Reserve Bank of India (RBI) released draft regulations proposing an overhaul of the country's foreign investment rules to simplify compliance and align forex laws with national investment policy.Under the proposed rules, an Indian entity would be considered foreign-controlled if a foreign investor holds at least 10% of its voting rights, can appoint a majority of its directors, or can influence management or policy decisions.The RBI said the draft was prepared following a government-led review announced in the Union Budget 2026-27.Comments on the proposed rules are invited until Aug. 31, after which the framework will be finalized.

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