US economic data again came in mostly weaker on Tuesday. The Conference Board's consumer confidence index fell to 70.2 in March from 71.6 in February. The S&P/Case-Shiller composite index of home prices in 20 metropolitan areas was flat in January. The Richmond Fed's index of manufacturing activity fell to 7 in March from 20 in February.
In contrast, Europe's economy is showing signs of stabilising. In the UK, the CBI distributive trades survey's March sales balance rose to zero in March from -2 in February. Insee's indicator of French consumer confidence rose to 87 in March from 82 in February. However, GfK's German consumer confidence index is expected to fall to 5.9 in April from 6.0 in March.
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