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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German consumer confidence index dropped in February
In Germany, the consumer confidence index recorded a drop to a reading of -15.60 in February, compared to a revised level of -7.50 in the previous month. Markets were anticipating the consumer confidence index to fall to -7.90.
US Fed kept its key interest rate steady
The US Federal Reserve (Fed), in its latest monetary policy decision, kept its benchmark interest rate unchanged in a target range of 0% to 0.25% and maintained the pace of its asset purchase program at a rate of at least $120 billion. The Fed reiterated that it expects to leave rates at near-zero levels until labour market stabilises with maximum employment and inflation is on track to moderately exceed its 2% goal.
US durable goods orders climbed less than expected in December
In the US, flash durable goods orders rose 0.20% on a MoM basis in December, compared to a revised rise of 1.20% in the prior month. Markets were expecting durable goods orders to record a rise of 0.90%.
US mortgage applications dropped in the week ended 22 January 2021
In the US, the number of mortgage applications fell 4.10% on a weekly basis in the week ended 22 January 2021, compared to a drop of 1.90% in the prior week.
Japanese retail trade dropped in December
In Japan, retail trade eased 0.80% on a MoM basis in December, compared to a drop of 2.00% in the previous month.
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