A better than expected in the US housing sector: a bounce of 14.7% in sales to an annual rate of 5.46 million, above expectations and certainly compensating for a drop last time. The CB Leading Index slid by 0.2% against 0.1% expected, but with an upwards revision.
The US dollar is very slightly stronger after the publication.
Existing home sales were expected to advance to an annualized pace of 5.2 million in December from 4.76 million in November, before revisions. New regulations contribute to the expectations.
The positive mood prevailed in markets, with the dollar beating the yen and the euro while losing to commodity currencies. Easing prospects from the ECB and BOJ are supportive, and the Fed could be next in line.
Earlier, Markit’s manufacturing PMI came out at 52.7 points, above 51.1 expected and showing that not all is lost in the manufacturing sector. Figures were relatively balanced this week in the US, with core inflation coming out as expected at 2.1% and a mixed report on housing: building permits and housing starts balanced each other.
