US: New Home Sales rise by 5.8% in November vs. -4.7% expected

New Home Sales in the US unexpectedly increased in November.
US Dollar Index stays in daily range above 104.00.

Eren Sengezer FXStreet

Sales of new single‐family houses rose by 5.8% in November to a seasonally adjusted annual rate of 640,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Friday.

This reading followed October's increase of 8.2% and came in much better than the market expectation for a contraction of 4.7%.

Market reaction

This report doesn't seem to be having a significant impact on the US Dollar's performance against its major rivals. As of writing, the US Dollar Index was virtually unchanged on the day at 104.38.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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