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The  Standard & Poor’s / Case  Shiller house price index showed a year over year rise of 8.1% in January. Expectations stood on a rise of 7.9% after 6.8% in December. Month over month, prices rose 0.1%.

Update: US home sales disappointed, and so did consumer confidence.

EUR/USD remains depressed under the 1.2880 line, awaiting more clarity on the situation in Cyprus. USD/JPY traded around 94.20 towards the publication.

The housing sector is leading in the slow US recovery. The US will release the number of new home sales soon, and this will provide more insight on the sector.

Earlier, durable goods orders were mixed: the headline number rose by 5.7%, better than 3.9% that was expected. On the other hand, core orders fell by 0.5%, while a rise was expected.

Further reading:  More Solid US Data: Philly Index Goes Positive