Key Events Around the Globe: March 20

Us New Home Sales Drop to Near 3-1/2-Year low in January

Sales of new U.S. single-family homes fell more than expected in January, hitting their lowest level in nearly 3-1/2 years, likely weighed down by harsh winter weather. New home sales tumbled 17.6% to a seasonally adjusted annualized rate of 587,000 units, the lowest level since October 2022, the Commerce Department’s Census Bureau said on Thursday.

US Wholesale Inventories Fall Sharply in January

U.S. wholesale inventories dropped sharply January, a trend that if sustained could result in inventory investment being a drag on economic growth in the first quarter. Stocks at wholesalers decreased 0.5% after falling 0.1% in December, the Commerce Department’s Census Bureau said on Thursday. Inventories, a key part of gross domestic product, increased 1.0% on a year-over year basis in January.

World Trade Growth Set To Slow to 1.9% This Year, Iran War May Weigh More, Says WTO

Growth in world trade in goods will slow down markedly to 1.9% this year from 4.6% in 2025 and could decelerate even more if the Middle East war continues to push energy prices higher and disrupt global transport, a World Trade Organization report said on Thursday. Last year a surge in artificial intelligence-related trade and goods front-loading to avoid a slew of U.S. tariffs enabled a better-than-expected growth performance.

While global trade remains resilient, buoyed by trade in AI-related products, the growth forecast is under pressure from the expanding U.S.-Israeli war on Iran, WTO Director-General Ngozi Okonjo-Iweala said. If crude oil and liquefied natural gas prices remain high throughout 2026 due to the conflict, global trade in goods could slow further to 1.4%, WTO economists said.

Bank of England Holds Rates as Expected Amid Inflation Concerns

The Bank of England’s Monetary Policy Committee voted unanimously on Thursday to maintain the bank rate at 3.75%, meeting market expectations. The decision came as the committee assessed inflation implications from a likely economic weakening due to higher energy prices. No MPC members voted to cut rates.

US Weekly Jobless Claims Unexpectedly Fall Amid Low Layoffs

The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, pointing to stable labor market conditions and a rebound in job growth in March. Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 205,000 for the week ended March 14, the Labor Department said on Thursday. Economists polled by Reuters had forecast 215,000 claims for the latest week

Source: HSL Prime Daily, 20 March 2026