United States Homebuilder Sentiment Reaches 11-Month High

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From Trading Economics: The NAHB Housing Market Index in the United States increased to 65 in September 2016 from a downwardly revised 59 in August. Figures came well above market expectations of 60, reaching the highest in eleven months. Current single-family home sales went up 6 points to 71; sales expectations over the next six months rose 5 points to 71 and buyer traffic increased 4 points to 48. Nahb Housing Market Index in the United States averaged 48.99 from 1985 until 2016, reaching an all time high of 78 in December of 1998 and a record low of 8 in January of 2009. Nahb Housing Market Index in the United States is reported by the National Association of Home Builders.

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In Asian Equity Markets stocks edged lower on Tuesday as investors nervously awaited the outcomes of two-day Federal Reserve and Bank of Japan policy meetings. MSCI's broadest index of Asia-Pacific stocks outside Japan fell 0.2 percent, after major U.S. indexes ended a choppy session nearly flat. Japan's Nikkei stock index erased earlier losses and added 0.1 percent, as trading resumed after a public holiday on Monday. Tokyo markets will be closed for another holiday on Thursday, with the highly-anticipated BOJ meeting sandwiched in between the market closures. The broader Topix outperformed, rising 0.9 percent to 1,322.66 and the JPX-Nikkei Index 400 gained 0.8 percent to 11,868.39. Australian stocks were 0.2 percent lower.

In Currency Markets the Aussie held gains in Asia on Tuesday after the release of central bank minutes signaled a neutral stance and as the overall market awaits policy reviews on Wednesday from the Bank of Japan and the U.S. Fed. The Aussie changed hands at $0.7540, up 0.08 percent. The dollar fell to 101.84 yen, about 0.4 percent lower than late last week though it remained well anchored in its trading range of the past weeks between 101.20 and 103.35. The euro firmed to $1.1178 from Monday's low of $1.1149, while the British pound edged up to $1.3038. In early Tuesday trade, the dollar's index against a basket of six major currencies fell to 95.938 from Friday's two-week high of 96.108.

In Commodities Markets oil prices fell on Tuesday after Venezuela said that global supplies needed to fall by 10 percent in order to bring production down to consumption levels, and technical indicators also pointed to cheaper crude futures.  International benchmark Brent crude oil futures were trading at $45.81 per barrel, down 17 cents from their last close. U.S. West Texas Intermediate crude futures were down 22 cents at $43.08 a barrel. Spot gold was up 0.2 percent at $1,315.51 an ounce. Among other precious metals, spot silver rose 0.3 percent to $19.20 an ounce. Platinum was up 0.3 percent at $1,023.65 per ounce and palladium rose 0.3 percent to $685.15.

In US Equity Markets stocks ended little changed on Monday, with gains in big bank stocks offsetting a drag from Apple, as investors braced for the Federal Reserve meeting later this week. The Dow Jones industrial average fell 0.02 percent, to 18,120.17, the S&P 500 lost 0.04 points, to 2,139.12 and the Nasdaq Composite fell 0.18 percent, to 5,235.03. JPMorgan, Bank of America and Wells Fargo all posted gains, and the KBW Bank index rose 0.5 percent. The real estate sector gained 1 percent. Apple shares shed 1.2 percent after registering huge gains last week. Sarepta Therapeutics' shares rocketed 73.9 percent to $48.94 after U.S. regulators approved its key muscle disorder drug.

In Bond Markets U.S. Treasuries yields fell on Monday as traders booked profits made on curve-steepening bets ahead of monetary policy meetings this week at the Bank of Japan and the U.S. Federal Reserve. Benchmark 10-year Treasury notes were up 2/32 in price for a yield of 1.694 percent, down 0.7 basis point from late on Friday. The yield gap between five-year and 30-year Treasuries contracted to 124 basis points after reaching 130 basis points last Thursday.

Source: Institute of Trading and Portfolio Management