Wednesday, 28 December 2011

US consumer confidence jumps, house prices fall

US economic data on Tuesday were mixed.

The Conference Board's consumer confidence index continued to recover in December. It rose to 64.5 in December from 55.2 in November.

However, house prices remained in a downtrend in October. A report from Standard & Poor's/Case-Shiller showed that house prices in 20 major metropolitan areas declined 1.2 percent on an unadjusted basis.

There was no major economic report from Europe on Tuesday.

However, the ECB did report that banks deposited €411.813 billion in its overnight deposit facility on Monday, a new all-time high, suggesting ongoing distrust among banks in inter-bank lending markets.

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