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Barchart
Rich Asplund

Dollar Sees Support from US Home Price Report and Year-End Buying

United States ECB China

The dollar index (DXY00) today is up by +0.06%.  The dollar saw support today from weakness in the yuan, which fell to a 14-month low against the dollar as China’s Dec manufacturing PMI fell -0.2 to 50.1, weaker than expectations of 50.2.  The dollar added to its gains after today’s news showed US home prices rose more than expected in October.  Gains in the dollar are muted due to strength in stocks and weakness in bond yields as the 10-year T-note yield today fell to a 1-week low, weakening the dollar’s interest rate differentials. 

The US Oct S&P CoreLogic composite-20 home price index rose +0.3% m/m and +4.2% y/y, stronger than expectations of +0.2% m/m and +4.1% y/y.

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