Investing.com - The National Association of Home Builders/Wells Fargo housing market index declined unexpectedly in January, industry data showed on Tuesday.
In a report, NAHB said that its Housing Market Index decreased to 57.0 this month from 58.0 in December. Analysts expected the index to hold steady at 58.0 in January.
A level above 50.0 indicates a favorable outlook on home sales, below indicates a negative outlook.
EUR/USD was trading at 1.1588 from around 1.1587 ahead of the release of the data, while GBP/USD was at 1.5180 from 1.5181 earlier, while USD/JPY was at 118.42 from 118.44 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 93.06, compared to 93.05 ahead of the report.
Meanwhile, U.S. stock markets were lower after the open. The Dow 30 shed 0.5%, the S&P 500 dipped 0.3%, while the Nasdaq 100 declined 0.25%.
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U.S. NAHB Housing Market Index slips 1 point in January to 57
Published 01/20/2015, 10:02 AM
U.S. NAHB Housing Market Index slips 1 point in January to 57
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