US: New Home Sales surge by 13.9% in July vs. 1.3% expected

• New Home Sales in the US rose more than expected in July.
• Upbeat data doesn't seem to be having an impact on the USD's valuation.

New Home Sales in the US increased by 13.9% in July to a seasonally adjusted annual rate of 901,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Tuesday.

This reading beat the market expectation of 1.3% by a wide margin.

"The median sales price of new houses sold in July 2020 was $330,600," the publication further read. "The average sales price was $391,300."

Market reaction 

The US Dollar Index largely ignored this report and was last seen losing 0.23% on the day at 93.07.