KEY POINTS

• -- The NAHB Housing Market Index rose to 44 in January from 37 in December.。
• -- Mortgage rates have fallen more than 110 basis points since October.。
• - Average price decline remained at 6%。

On January 17, the National Association of Home Builders released its January NAHB Housing Market Index report.。The report showed that the NAHB housing market index rose from 37 in December to 44 in January, compared with the analyst consensus of 39.。

The National Association of Home Builders commented: "Lower interest rates improved conditions for home purchases last month, allowing some buyers who were put on hold in the fall due to higher borrowing costs to re-enter the market.。"

Mortgage rates have fallen by more than 110 basis points since late October, providing substantial support to the housing market.。Interestingly, the NAHB noted that 31% of builders lowered their home prices in January to boost sales.。

Dollar index retreats from intraday highs after better-than-expected NAHB report。For the dollar, the strong retail sales report released earlier will likely remain a key catalyst for the day's trading session.。

Gold is under tremendous pressure in trading, with traders focusing on a strong dollar and rising Treasury yields。Right now, gold is trying to stabilize below the support level of the 2015 dollar.。

S & P 500 rebounds from session lows, supported by better-than-expected report。It's worth noting that while the retail sales data were encouraging, the S & P 500's bets on the dovish Fed were reduced, showing a negative reaction.。

For more information on all of today's economic events, check out our economic calendar。