The dollar climbed higher against the majors with the exception of the yen, advancing to 1.0692 against the Canadian dollar and 1.4043 versus the euro. US equity bourses halted early morning losses after a report revealed better than expected consumer confidence, pushing the Dow Jones, S&P 500 and the Nasdaq back into positive territory. Spot gold and crude oil also tempered overnight losses following the upbeat confidence survey, edging back up toward the $75-level and $1,100-mark, respectively.The November Case-Shiller home prices improve to -5.32% from -7.27% a year earlier and increase by 0.24% versus 0.26% in the previous month. The Conference Board’s consumer confidence survey outpaced consensus estimates for an improvement to 53.5 in January from 53.6 a month earlier, instead climbing to 55.9, and its highest level in 16-months. The November home price index increased to 0.7% from 0.4% in October.
In the coming session, traders will look ahead to December new home sales and the FOMC monetary policy decision. New home sales for December are estimated to increase by 3.1% compared with a decline of 11.3% in the previous month at 366k units.
by Korman Tam
ForexNews.com
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