US: New Home Sales rise by 7.5% in October vs. -3.8% expected

New Home Sales in the US rose unexpectedly in October.
US Dollar Index stays deep in negative territory at around 106.50.

Eren Sengezer FXStreet

Sales of new single‐family houses rose by 7.5% in October to a seasonally adjusted annual rate of 632,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Wednesday.

This reading followed September's contraction of 11% and came in much better than the market expectation for a decrease of 3.8%.

Market reaction

This data failed to help the US Dollar, which came under heavy selling pressure on disappointing PMI figures, find demand. As of writing, the US Dollar Index was down 0.55% on the day at 106.55.

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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