Investing.com - U.S. new home sales rose significantly more-than-expected in January, climbing to the highest level since July 2008, official data showed on Tuesday.
In a report, the U.S. Census Bureau said new home sales rose by 15.6% to a seasonally adjusted 437,000 units in January, compared to expectations for an increase to 381,000.
New home sales for December were revised up to 378,000 units from a previously reported 369,000.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.2% to trade at 1.3086.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.85%, the S&P 500 index advanced 0.6%, while the Nasdaq Composite index eased up 0.5%.
In a report, the U.S. Census Bureau said new home sales rose by 15.6% to a seasonally adjusted 437,000 units in January, compared to expectations for an increase to 381,000.
New home sales for December were revised up to 378,000 units from a previously reported 369,000.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.2% to trade at 1.3086.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.85%, the S&P 500 index advanced 0.6%, while the Nasdaq Composite index eased up 0.5%.