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U.S. new home sales jump 5.8% to 8-month high in March

Published 04/25/2017, 10:02 AM
Updated 04/25/2017, 10:02 AM
© Reuters. U.S. new home sales jump 5.8% in March

Investing.com - U.S. new home sales rose more than expected in March, hitting the highest level in eight months, official data showed on Tuesday.

New home sales jumped by 5.8% to a seasonally adjusted 621,000 units last month, compared to expectations for a decline of 0.8% to 583,000, the Commerce Department said in a report.

New home sales in February were revised down to 587,000 units from a previously reported 592,000 units.

EUR/USD was trading at 1.0906 from around 1.0897 ahead of the release of the data, GBP/USD was at 1.2808 from 1.2814 earlier, while USD/JPY was at 110.69 from 110.61 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 98.86, compared to 98.89 ahead of the report.

Meanwhile, U.S. stock markets were higher after the open. The Dow 30 rose 1%, the S&P 500 tacked on 0.5%, while the Nasdaq Composite inched up 0.5%.

Elsewhere, in the commodities market, gold futures traded at $1,268.50 a troy ounce, compared to $1,268.70 ahead of the data, while crude oil traded at $49.11 a barrel from around $49.06 earlier.

Latest comments

Funny it has always been mentioned only positive things. But Consumer Confidens *******:-)
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