NEW YORK, Nov. 27 (Xinhua) — The U.S. dollar misplaced momentum in late buying and selling on Monday, because the United States reported combined housing market information within the day.
The dollar index, which measures the buck towards six main friends, was down 0.16 p.c to 103.2078 in late buying and selling.
New dwelling gross sales within the United States dropped 5.6 p.c to a seasonally adjusted annual charge of 679,000 items in October, the Commerce Department’s Census Bureau mentioned Monday. September’s gross sales tempo was revised decrease to 719,000 items from the beforehand reported 759,000 items. The median gross sales value of latest homes bought in October dropped to 409,300 U.S. {dollars}, down from 422,300 {dollars} within the prior month and down 17.6 p.c from the identical month final yr, hitting the bottom degree since August 2021.
“We expect new-home sales to soften further over the remainder of the year, but with mortgage rates recently pulling back somewhat, we don’t expect the decline to be large,” mentioned Doug Duncan, chief economist at Fannie Mae.
The U.S. Treasury yields moved decrease on Monday as merchants guess that the Fed would begin chopping charges within the first half of the subsequent yr to supply extra help to the economic system, which pulled down the U.S. dollar.
According to the Federal Reserve Bank of Dallas on Monday, the Dallas Fed Manufacturing Index declined from -19.2 in October to -19.9 in November, in comparison with analyst consensus of -17. The Production Index declined from 5.2 in October to -7.2 in November, whereas the New Orders Index decreased from -8.8 to -20.5.
In late New York buying and selling, the euro was as much as 1.0956 {dollars} from 1.0946 {dollars} within the earlier session, and the British pound elevated to 1.2631 {dollars} from 1.2608 {dollars} within the earlier session.
The U.S. dollar purchased 148.6250 Japanese yen, decrease than 149.4800 Japanese yen of the earlier session. The U.S. dollar decreased to 0.8802 Swiss francs from 0.8818 Swiss francs, and it elevated to 1.3623 Canadian {dollars} from 1.3622 Canadian {dollars}. The U.S. dollar decreased to 10.4226 Swedish kronor from 10.4380 Swedish kronor.