The GfK Consumer Climate for Germany declined in its February advance print, to -22.4 points, compar...
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Bullish conditions in USDJPY remain intact and the pair is trading at its recent highs. The breach of 156.75, the Nov 15 high and a bull trigger, confirmed a resumption of the uptrend and has paved the way for a move towards 159.45, the Jul 12 high. Moving average studies are in a bull-mode position highlighting a clear dominant uptrend. Initial firm support is 155.01, the 20-day EMA. A pullback would be considered corrective.
A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the recent move down highlights a corrective phase. Despite the latest bounce, a short-term bear threat remains present - for now. Key short-term support has been defined at 4829.00, the Dec 20 low. A break of it would confirm a resumption of the bear cycle and open 4800.87, a Fibonacci retracement. Initial resistance is at 4939.00, the Dec 19 high.
Home purchase restrictions in major cities are expected to be further relaxed next year, with housing mortgage rates likely to fall Securities Daily said in a commentary. Authorities will quicken de-stocking in the housing market by giving local authorities more flexibility in buying up unsold homes for affordable housing in terms of acquisition entities and prices, the newspaper said. Revitalising commercial and office buildings, as well as boosting credit supply to white-listed housing projects to ensure delivery are also necessary, the newspaper said.