US New Home Sales Rise Above Estimates

Sales of new single‐family houses, in the United States, 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.

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

This data failed to help the softer 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.