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U.S. NAHB Housing Market Index slips 2 points in February to 55

Published 02/17/2015, 10:02 AM
Updated 02/17/2015, 10:02 AM
© Reuters. U.S. NAHB Housing Market Index falls unexpectedly in February

Investing.com - The National Association of Home Builders/Wells Fargo housing market index declined unexpectedly in February, industry data showed on Tuesday.

In a report, NAHB said that its Housing Market Index decreased to a four-month low of 55.0 this month from 57.0 in January. Analysts expected the index to rise to 58.0 in February.

A level above 50.0 indicates a favorable outlook on home sales, below indicates a negative outlook.

EUR/USD was trading at 1.1403 from around 1.1401 ahead of the release of the data, while GBP/USD was at 1.5144 from 1.5346 earlier, while USD/JPY was at 118.92 from 118.91 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.21, compared to 94.19 ahead of the report.

Meanwhile, U.S. stock markets were lower after the open. The Dow 30 shed 0.15%, the S&P 500 dipped 0.2%, while the Nasdaq 100 declined 0.15%.

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