US: New Home Sales decline by 12.6% to 511,000 in July

• New Home Sales in the US fell sharply in July. 
• The US Dollar Index continues to push lower toward 108.00.

Sales of new single‐family houses declined by 12.6% in July to a seasonally adjusted annual rate of 511,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Tuesday. 

"The median sales price of new houses sold in July 2022 was $439,400," the publication further revealed. "The average sales price was $546,800."

Market reaction

The dollar stays under heavy selling pressure after this data and the US Dollar Index was last seen losing nearly 0.7% on the day at 108.20.