US: New Home Sales in January rose 7.9% vs. 3.5% expected

• New Home Sales in US rose more than expected in January. 
• US Dollar Index clings to daily gains above 99.20 after data.

New Home Sales in the US rose 7.9% on a monthly basis in January to 764,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Wednesday. This reading followed a 2.3% increase in December and surpassed the market expectation of 3.5% by a wide margin.

"The median sales price of new houses sold in January 2020 was $348,200," the publication further read. "The average sales price was $402,300. "

USD reaction

The US Dollar Index largely ignored this reading and was last up 0.23% on the day at 99.22.