In US economic data, durable goods orders (proxy for business investment) fell by 3.4 per cent in December (forecast 0.5 per cent). Non-defence orders excluding aircraft fell by 0.6 per cent. New home sales rose by 11.6 per cent in December to a 481,000 annual rate (forecast 450,000). Case Shiller home prices rose by 0.7 per cent in November to be 4.3 per cent higher than a year ago, in line with forecasts. Consumer confidence rose from 93.1 to 102.9 in January, well ahead of forecasts of 95.1.