• Existing Home Sales in the US recovered in November.
• US Dollar Index stays modestly higher around 102.20.

Existing Home Sales in the US rose 0.8% in November to a seasonally adjusted annual rate of 3.82 million, better than the 3.77 million of market consensus. It is the first increase after a five-month drop. Compared to a year ago, sales are down 7.3%. 

"The median existing-home sales price rose 4.0% from November 2022 to $387,600 – the fifth consecutive month of year-over-year price increases", the report mentioned.

Market reaction

After trimming daily gains during the last two hours, the US Dollar Index (DXY) is hovering around 102.20 modestly higher for the day. US Treasury yields remain at monthly lows, with the 10-year under 3.90%.