US: New Home Sales Increase 7.5% in October vs. -3.8% Expected

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  • New home sales in the United States rose unexpectedly in October.
  • The Dollar Index remains in negative territory around 106.50.

New single-family home sales increased 7.5% in Octoberup to a seasonally adjusted annual rate of 632,000, data released jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Wednesday.

This reading followed the 11% contraction in September and was much better than the market expectation of a 3.8% decline.

market reaction

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These data did not help demand for the dollar, which came under strong selling pressure following disappointing PMI numbers. At time of writing, the Dollar Index is down 0.55% on the day, settling at 106.55.

Source: Fx Street

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