Credit: Investing.com -
Investing.com - The National Association of Home Builders/Wells Fargo housing market index declined unexpectedly in February, industry data showed on Tuesday.
In a report, NAHB said that its Housing Market Index decreased to a four-month low of 55.0 this month from 57.0 in January. Analysts expected the index to rise to 58.0 in February.
A level above 50.0 indicates a favorable outlook on home sales, below indicates a negative outlook.
EUR/USD was trading at 1.1403 from around 1.1401 ahead of the release of the data, while GBP/USD was at 1.5144 from 1.5346 earlier, while USD/JPY was at 118.92 from 118.91 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.21, compared to 94.19 ahead of the report.
Meanwhile, U.S. stock markets were lower after the open. The Dow 30 shed 0.15%, the S&P 500 dipped 0.2%, while the Nasdaq 100 declined 0.15%.
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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.
