There were a few pieces of data released in the US this morning
with the US durable goods orders report coming in
better than expected at 3.6%. US consumer confidence was well above estimates
at 81.4 and new home sales were above estimates as well at 476,500. While the
Case-Shiller home price index is not viewed as a major release it posted its
largest growth in seven years with a year over year growth of 12.1% indicating
a very strong housing market. With the Fed looking to begin cutting back the stimulus once positive data is available, this better than expected housing data may give the Fed a
justification to do just
that sooner than later.
These strong reports
have helped to push the US Dollar higher against most
currencies, equities are also moving
higher so a strong day for
markets south of the border.
Have a good evening
Yonah
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