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U.S. new home sales jump 2.2% to hit 7-year high in May

Published 23/06/2015, 15:02
© Reuters. U.S. new home sales rise to 7-year high in May
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Investing.com - U.S. new home sales rose more than expected in May to hit the highest level since February 2008, fueling optimism over the health of the housing sector, official data showed on Tuesday.

In a report, the U.S. Commerce Department said new home sales jumped by 2.2% to a seasonally adjusted 546,000 units last month, compared to expectations for a gain of 1.5% to 525,000.

New home sales in April were revised up to 534,000 units from a previously reported 517,000 units.

EUR/USD was trading at 1.1151 from around 1.1163 ahead of the release of the data, GBP/USD was at 1.5737 from 1.5749 earlier, while USD/JPY was at 124.11 from 124.04 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.74, compared to 95.68 ahead of the report.

Meanwhile, U.S. stock markets were higher after the open. The Dow 30 rose 0.25%, the S&P 500 tacked on 0.15%, while the Nasdaq Composite inched up 0.1%.

Elsewhere, in the commodities market, gold futures traded at $1,178.40 a troy ounce, compared to $1,179.10 ahead of the data, while crude oil traded at $59.81 a barrel from around $59.86 earlier.

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