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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house prices advanced more than expected in January
In the UK, the seasonally adjusted house prices climbed 0.50% on a MoM basis in January, compared to an advance of 0.10% in the prior month. Markets were expecting house prices to climb 0.30%.
German consumer confidence index unexpectedly rose in February
In Germany, the consumer confidence index recorded an unexpected rise to a level of 9.90 in February, compared to market expectations of a drop to a level of 9.60. The index had recorded a revised to a level of 9.70 in the previous month.
US advance goods trade deficit widened in December
In the US, advance goods trade deficit widened to $68.33 billion in December, compared to a revised trade deficit of $62.99 billion in the previous month. Markets were expecting the nation to register a trade deficit of $68.75 billion.
US pending home sales unexpectedly declined in December
In the US, pending home sales unexpectedly dropped 4.90% on a MoM basis in December. Pending home sales had recorded a rise of 1.20% in the prior month.
Fed kept its key interest rate unchanged
The Fed, at its latest monetary policy meeting, left the benchmark interest rate unchanged in the 1.50% to 1.75% range, as widely expected and hinted that interest rates will remain unchanged throughout 2020. Moreover, policymaker indicated that the US economy was growing at a moderate rate. Further, the Fed Chairman, Jerome Powell, stated that current monetary policy is suitable to support sustained economic growth, a strong labour market and inflation to symmetric 2.0%, although he added that uncertainties about the outlook remained, including those posed by the new coronavirus outbreak.
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