Investing.com – U.S. existing home sales rose more than expected in April, bolstering optimism over the health of the housing market, according to a report released on Friday by the National Association of Realtors.
The industry data showed that home resales rose 1.7% in April to a seasonally adjusted 5.45 million units from the 5.36 million units in March that was revised up from the initial read of 5.33.
The consensus forecast was for a 1.3% increase to 5.40 million units.
The data helps to gauge the strength of the U.S. housing market and is considered to be a key indicator of overall economic strength.
After the report, EUR/USD was trading at 1.1223 from around 1.1230 ahead of the release of the data, GBP/USD was at 1.4539 from 1.4538 earlier, while USD/JPY was unchanged at 110.43.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.32, compared to 95.27 ahead of the report.
Meanwhile, U.S. stock markets were higher after the open. The Dow Jones Industrial Average jumped 100 points, or 0.57%, the S&P 500 gained 13 points, or 0.66%, while the NASDAQ Composite rose 50 points, or 1.07%.
Elsewhere, in the commodities market, gold futures traded at $1,253.75 a troy ounce, compared to $1,255.50 ahead of the data, while U.S. crude oil traded at $48.41 a barrel from $48.71 earlier.