U.S. new home sales seem to have recovered slightly in November

New home sales in the U.S. are expected to have rebounded in November after declining in the prior month. New home sales fell 1.9 percent in October and might have recovered slightly in November, possibly rising to about 570,000, stated Societe Generale in a research report.

The Homebuilders index for December indicated marked strength, rising to 70 from 63. The buyer traffic index rose to 53 from 47, whereas the present sales component rose sharply to 76 from 69. All the three measures recorded their highest prints since July 2005.

In the meantime, mortgage rates rose after the election, resulting in a rise in mortgage applications for purchase, as possible homebuyers rushed to lock in a low rate before mortgage rates rose further, noted Societe Generale. In November, the MBA purchase index rose almost 13 percent in November that might suggest a rebound in new home sales in the period.

At 06:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 44.1452. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex