Between December 2012 and December 2013, Month over month, this is a rise of 0.8%. US house prices rose by 13.4% according to a prominent HPI. This is within expectations. The S&P Case / Shiller Composite-20 House Price Index was expected to show a year over year rise of 13.3% rise in December 2013, after a higher 13.7% rise in November. While inflation has been quite tame and at times worrying and too low, the prices of home enjoyed double digit gains during the year.
Before the publication, EUR/USD was trading at relatively high ground around 1.3755. USD/JPY floated above 102.20 and GBP/USD was struggling with the 1.67 level. Currencies are little moved.
At the same time, the official House Price Index (HPI) was published and it showed a strong rise of 0.8%, much better than predicted. This was predicted to to rise by 0.4% (month over month) after 0.1% in the previous month. Year on year, this is a rise of 7.7%. The S&P CS index carries more weight.
There is another important figure due later today: the CB Consumer Confidence. A similar number to last month’s 80.7 points is expected.
Further reading:Â EUR/USD Hesitates ahead of double top at 1.3772
