SHANGHAI, Oct 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected in the day ahead.

Last night

The US dollar fell against the British pound and the euro after European Union leaders delayed a decision on whether to grant Britain a three-month Brexit extension.

The British Prime Minister's plan to fast-track the Brexit process has been thwarted by Parliament. It came after the Withdrawal Agreement Bill (WAB) passed its “second reading” in the House of Commons.

The dollar index, which tracks the greenback against a basket of other currencies, eased 0.06% and ended at 97.47.

LME base metals, except for tin, closed higher overnight, with the SHFE complex trading mixed. LME lead advanced 0.8%, copper rose 0.9%, nickel climbed 0.39%, zinc increased 0.51%, aluminium gained 0.44%, while tin lost 2.01%. 

SHFE nickel added 1.97%, copper went up 0.87%, aluminium rose 0.25%, while lead shed 0.62%, zinc fell 0.08%, and tin slid 0.61%.  

US home prices increased in August, rising only 0.2% from the previous month but up 4.6% from 2018, according to the latest monthly house price index from the Federal Housing Finance Agency (FHFA).

Prices increased annually in all nine census divisions that FHFA tracks, with the Pacific division reporting the highest increase at 6.5% and the Middle Atlantic reporting the smallest increase at 3.9%.

The US house price index measures the changes in prices of homes that are purchased using mortgages provided by Freddie Mac and Fannie Mae, the two biggest home loan providers in the US.

Eurozone consumer confidence weakened more-than-expected in October to its lowest level in 10 months, falling to -7.6 from -6.5 in September, according to preliminary data from the European Commission. Economists had forecast a score of -6.7.

The Energy Information Administration (EIA) on Wednesday reported that US crude supplies fell for the first time in six weeks, down 1.7 million barrels for the week ended October 18. Crude supplies were forecast to increase by 4.7 million barrels. 

The American Petroleum Institute (API) on Tuesday reported a rise of 4.45 million barrels, according to sources. 

The EIA data showed supply declines of 3.1 million barrels for gasoline and 2.7 million barrels for distillates.

Day ahead

Key economic data slated for release today include October Markit manufacturing purchasing managers' index (PMI) in Germany, the eurozone and the US, the US weekly unemployment claims, its durable goods orders and new home sales for September.