USA New Home Sales Change

Description

Released on a monthly basis by the US Census Bureau, this indicator captures changes in the number of new homes sold in the United States. The indicator is used to gauge overall conditions in the housing sector. Because housing represents an important segment of the US economy, this indicator is used to gauge overall demand for goods and services that result from home buying. The headline indicator is expressed as a percentage change from the previous month.
Latest Release: 23-12-2014 15:00:00
Next Release: 26-02-2014 15:00:00
Source:US Census Bureau/Department of Comm...
US Dollar Index Hits 85.00
Sep 24th, 2014 at 04:32 PM

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 world’s 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...

  • Business » US New Home Sales Surge 18% in August
    Posted Sep 24th, 2014 at 03:53 PM

    The sale of new US homes surged in August, raising optimism the housing recovery was gathering momentum in the third quarter following a series of mixed reports. New US home sales rose 18 percent...