US: New Home Sales rise by 7.2% in January vs 2.5% expected

New Home Sales in the US rose at a stronger pace than expected in January.
US Dollar Index clings to strong daily gains above 105.00.

Eren Sengezer FXStreet

Sales of new single‐family houses rose by 7.2% in January to a seasonally adjusted annual rate of 670,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Friday.

This reading followed December's increase of 7.2% (revised from 2.3%) and surpassed the market expectation of 2.5% by a wide margin.

Market reaction

The US Dollar Index clings to strong daily gains above 105.00 after this data.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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