The report also showed that upward pressure on prices and wages increased. The Prices Paid for Raw Materials Index increased from 12.1 to 17.5, while Wages and Benefits Index improved from 17.9 to 20.9.
Today, traders also had a chance to take a look at the New Home Sales report for December. The report showed that New Home Sales increased by 3.6% on a month-over-month basis, compared to analyst forecast of -3.5%.
U.S. Dollar Index continued to move away from session lows as traders reacted to the better-than-expected Dallas Fed Manufacturing Index report. Currently, U.S. Dollar Index is trying to settle above the 107.30 level.
Gold tested new lows after the release of the reports. Gold is trying to settle below the $2740 level as traders take profits after the strong…
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