The US NAHB housing market indicator weakened unexpectedly in December

ANALYSIS | 12/15/2014 15:24:10 GMT

European shares opened higher this morning, supported by a rebound in the oil price. Shares however failed to safeguard their gains and trade again slightly lower. In the US, equities opened higher too, supported by very strong production data, but are reversing part of their losses as the oil price comes again under pressure.
Despite a limited rebound in the Brent oil price, the Russian rouble dropped to new lows today, both against the euro and the US dollar. According to traders, the central bank intervened, but was unable to support the currency. EUR/RUB is currently trading above 75.
The US NAHB housing market indicator weakened unexpectedly in December, from 58 to 57, while a limited increase was expected. Sentiment regarding both current and future sales weakened slightly this month.
Greece’s Finance Minister said the country faces financial trouble in February if it fails to elect a president adding that the deficit is manageable until February without a decision on the pending bailout review due to unlock €7 billion in aid.

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