2018 Economic Calendar
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Market Reflections  

January 24, 2018
Housing data are softening but still remain very solid. FHFA house prices came in lower than expected but the monthly gain of 0.4 percent and the yearly rate of 6.5 percent are still very healthy. Existing home sales fell a steep looking 3.6 percent but follow a 5.1 percent surge in the prior month that was an expansion best.

Treasury Secretary Mnuchin's comments citing the positive effects of a lower dollar helped pull the dollar index down a steep 0.9 percent to 89.26 and the first sub-90 reading in three years. Demand for U.S. Treasuries eased with the 10-year yield up 4 basis points to 2.65 percent.

Up more than $1 for a second straight session and near $66, oil is getting a boost from the supply side following another draw in weekly inventories and talk that OPEC will continue to hold back production. Gold had a strong day, up more than $20 to $1,363. Stocks were mixed with the Dow up 0.2 percent to 26,252 and a new record while the Nasdaq came off yesterday's record with a 0.6 percent decline to 7,415.

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