USA New Home Sales Change
|Latest Release:||23-12-2014 15:00:00|
|Next Release:||26-02-2014 15:00:00|
|Source:||US Census Bureau/Department of Comm...|
The US dollar rose to fresh highs against a basket of currencies on Wednesday, as a surge in new home sales unleashed a fresh wave of bullishness for the worldâs most actively traded currency.
The dollar index, which measures the performance of the greenback against a basket of currencies including the euro, Japanese yen, British pound, Canadian dollar, Swiss franc and Swedish krona, surged 0.44 percent to 85.03.
Stronger US data and growing speculation the Federal Reserve is considering an early rate hike have boosted demand for the greenback in recent months. These broad market forces, combined with a deteriorating economic outlook in Europe and Japan that have resulted in broad sell-offs of competitor currencies, have lifted the US dollar index 6.5 percent since July 1.
The dollar index rose for the tenth consecutive week on September 19, its longest rally since at March 1967, according to Bloomberg News.
The dollar was supported on Wednesday by an unexpected surge in new home sales, which have struggled to gain traction this year amid rising house costs and tighter lending terms.
The sale of new US homes surged 18 percent in August to a seasonally adjusted annual rate of 504,000, according to the Commerce Department. That marked the biggest single-month gain since 1992, which brought new home sales to their highest level in more than six years.
July new home sales increased 1.9 percent to 427,000 after the initial estimate...
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