Investing.com – U.S. existing home sales slumped more than expected in February, dampening optimism over the health of the housing market, according to a report released on Tuesday by the National Association of Retailers.
The industry data showed that home resales fell 7.1% in February to a seasonally adjusted 5.08 million units from 5.47 million units in February.
The consensus forecast was for a -2.2% decline to 5.34 million units.
The data helps to gauge the strength of the U.S. housing market and is considered to be a key indicator of overall economic strength.
After the report, EUR/USD was trading at 1.1268 from around 1.1258 ahead of the release of the data, GBP/USD was at 1.4390 from 1.4394 earlier, while USD/JPY was at 111.72 from 111.84 previously.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.20, compared to 95.25 ahead of the report.
Meanwhile, U.S. stock markets were mostly flat after the open. The Dow Jones Industrial Average slipped 8 points, or -0.05%, the S&P 500 shed 1 point, or -0.01%, while the NASDAQ Composite rose 8 points, or 0.16%.
Elsewhere, in the commodities market, gold futures traded at $1,247.10 a troy ounce, compared to $1,245.60 ahead of the data, while U.S. crude oil traded at $41.61 a barrel from $41.59 earlier.