US: New Home Sales rise by 9.6% in March vs. 1.1% expected

• New Home Sales in the US increase at a much stronger pace than expected in March.
• US Dollar Index extends its rebound toward 102.00. 

Sales of new single‐family houses rose by 9.6% in March to a seasonally adjusted annual rate of 683,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Tuesday.

This reading followed February's decline of 3.9% came in much better than the market expectation for an increase of 1.1%.

Market reaction

The US Dollar continues to gather strength in the American session and the US Dollar Index was last seen rising 0.5% on the day at 101.85.