- 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
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
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
