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Barchart
Barchart
Rich Asplund

Dollar Supported by Better-Than-Expected US Economic News

United States Donald Trump BOJ ECB Gold Powell US Federal Reserve Chicago Home Prices PBOC

The dollar index (DXY00) today is up by +0.09%.  The dollar is slightly higher today on better-than-expected US economic news on home prices and the Dec MNI Chicago PMI.  Also, higher T-note yields today have strengthened the dollar's interest rate differentials.  Questions about the Fed's independence are limiting gains in the dollar after President Trump said Monday evening that he "still might" fire Fed Chair Powell.  Also, strength in the Chinese yuan is undercutting the dollar after the yuan rallied to a 2.5-year high today.

The US Oct S&P CaseShiller composite-20 home price index rose +0.3% m/m and +1.3% y/y, stronger than expectations of +0.1% m/m and +1.1% y/y.

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