Investing.com - U.S. new home sales rose significantly more than expected in May to hit a six-year high, fuelling 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 soared by 18.6% to a seasonally adjusted 504,000 units last month, blowing past expectations for a gain of 1.6% to 440,000.
New home sales in April were revised down to 425,000 units from a previously reported 433,000 units.
Following the release of the data, the U.S. dollar held on to modest losses against the euro, with EUR/USD rising 0.1% to trade at 1.3616.
Meanwhile, U.S. equity markets were mixed after the open. The Dow fell 0.1%, the S&P 500 declined 0.1%, while the Nasdaq 100 tacked on 0.3%.
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