The foreign exchange market was a little livelier on Tuesday with a weakened Dollar (-0.3% against the Euro) and the lowest against the Euro since April 2018 (1.2275 at the lowest before rebounding towards 1.225/E).

The return on the Dollar is progressing in relative terms since T-Bonds are stagnating around 0.95% while Bunds and OATs are posting +1.5pt.

A bond issue of 7-year Treasury bills received a bad reception on Tuesday, causing a clear tension in the underlying rate.

The Dollar was also not supported by the monthly survey by S&P CoreLogic Case-Shiller on the average house price, reflecting an acceleration in the rise to +7.9% at an annual rate in the United States (consensus +8 %), in particular due to strong increases in cities such as Seattle, Phoenix (No. 1 on the list in November) or San Diego.

If prices are soaring especially in the West and Southwest of the country, the Midwest and Northeast regions are also well oriented, with increases of 7.7% and 7.9% respectively.

“The data from the last few months is consistent with our view that the Covid crisis has encouraged buyers to move from their city apartments to suburban homes,” said Craig J. Lazzara, head of index strategy at S&P Dow Jones Indices.

The British Pound also strengthened by +0.3% against $ at 1.3500 five days after the conclusion of a trade agreement which constitutes a 'lesser evil'.