According to the financial specialists, global markets started with pricing latest American data today. In New York, new house sales rose by 5.8 % to 621,000 in March. There is also an upward update in January data. Despite the recent deterioration in other economic data, the improvement in the housing sector is noteworthy. Demand for the housing sector continues with interest rates on housing loans that are currently known to be at historic low levels. Another important economic data was the Conference Board consumer confidence index. Markets were not able to find a direction during the month of April, the index was at 120.3.
If we leave the disclosed economic data aside, it is expected that Donald Trump will announce "tax reform" today. While the details are highly anticipated, the risk appetite of the markets seems to be in place. The US stock market, which has been moving in a narrow range over the past few weeks, broke a record in yesterday's transactions. The reform will be so important for the near future of American economy because the traders started to price the positive atmosphere and they are ready to take risk. We will see what kind of reaction the markets will give after Trump's reform announcement.
- Date: 26 April 2017 Wed 08:24
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