Today, traders also had the chance to view the Pending Home Sales report for November. The report shows that pending home sales increased 2.2% month-on-month, compared to analysts’ forecast of +0.7%. On an annual basis, current home sales increased by 6.9%.
Chicago’s PMI fell to 36.9 in December from 40.2 in November, while analysts expected it to rise to 42.5.
The US Dollar Index fell around the 108.20 level as traders reacted to the better-than-expected Dallas Fed Manufacturing Index report. From a technical perspective, the US Dollar Index remains below resistance at 108.30 – 108.50.
Gold retreated to the $2,600 level as traders focused on the strong US dollar. Falling government bond yields did not support gold markets today.
SP500 attempted to recover from session lows following the release of the Dallas Fed Manufacturing Index report. From an overall perspective, the SP500 remains under pressure due to profit taking.
Check out our economic calendar for an overview of all today’s economic events.