US new home sales: New post-recession high – Wells Fargo

By FXStreet According to analysts from Wells Fargo, today’s report on new home sales, that showed much better-than-expected number should rise expectation for the year ahead.

Key Quotes:

“On the heels of several disappointing months, new home sales bested expectations and rose 16.6 percent in April to a 619,000-unit annual rate, marking a new post-recession high.”

“The prior three months of data were also revised higher, pushing sales up 9.0 percent on a year-to-date basis.

“The stronger April report brings new home sales back in line with what most large homebuilders have been reporting and should raise expectations for the year ahead.”
For more information, read our latest forex news. …read more

Source:: FX Street