Investing.com - U.S. existing home sales rose more than expected in May to hit the highest level since 2009, boosting optimism over the health of the economy and supporting the case for a U.S. interest rate hike this year, industry data showed on Monday.
In a report, the National Association of Realtors said that existing home sales increased 5.1% to a seasonally adjusted 5.35 million units last month from 5.09 million in April. Analysts had expected existing home sales to rise 4.4% to 5.26 million units in May.
EUR/USD was trading at 1.1363 from around 1.1369 ahead of the release of the data, GBP/USD was at 1.5827 from 1.5833 earlier, while USD/JPY was at 123.20 from 123.12 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.34, compared to 94.31 ahead of the report.
Meanwhile, U.S. stock markets were higher after the open. The Dow 30 inched up 0.65%, the S&P 500 rose 0.7%, while the Nasdaq Composite advanced 0.7%.
Elsewhere, in the commodities market, gold futures traded at $1,185.40 a troy ounce, compared to $1,185.70 ahead of the data, while crude oil traded at $59.77 a barrel from $59.67 earlier.
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U.S. existing home sales rise 5.1% in May
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