Credit: Investing.com -
Investing.com - The National Association of Home Builders/Wells Fargo housing market index rose more than expected in November, industry data showed on Tuesday.
In a report, NAHB said that its Housing Market Index increased to 58.0 this month from 54.0 in October, above expectations for a reading of 55.0.
A level above 50.0 indicates a favorable outlook on home sales, below indicates a negative outlook.
"Growing confidence among consumers is what's fueling this optimism among builders," said NAHB Chairman Kevin Kelly.
EUR/USD was trading at 1.2504 following the release of the data, from 1.2512 ahead of the report, while GBP/USD was at 1.5640, compared to 1.5649 earlier.
Meanwhile, U.S. stock markets were higher after the open. The Dow 30 rose 0.25%, the S&P 500 advanced 0.4%, while the Nasdaq 100 picked up 0.5%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
