Aug 24 (Reuters) - The dollar weakened broadly on Friday as lingering worries about the recent global credit and liquidity squeeze outweighed surprisingly strong U.S. economic data.

The dollar briefly rose after reprots showed U.S. new home sales rebounded in July and orders for durable goods unexpectedly jumped last month. However, news about exposure by Asian and European banks to the U.S. mortgage sector revived concerns about creditworthiness in global markets.

“I don’t think the dollar is being moved by short-term economic information and based on timing issues it looks like August will be more relevant in terms of new home sales and durable goods,” said David Greenwald, a partner at short-term currency hedge fund Scalene Capital in Newport Beach, California.

Dwight Moreland had been suffering from a bad back and living off his savings for more than five years when he finally gave up hopes of keeping his Grand Prairie home.

In May, the 55-year-old and his wife talked to lenders about selling, then buying something cheaper to trade their $1,400 monthly mortgage for one closer to $1,000. At the time, a local lender told them that – even with Mr. Moreland’s weak credit score – they could get a 30-year fixed-rate loan at a 7.25 percent interest rate, no money down.

When Lydia Player needed to put some magic in her home sales business, she called on a well-known wizard for some help.

Ms. Player – who sells houses in North Dallas neighborhoods – recently held a private screening of the latest Harry Potter movie as a way to socialize with potential clients and showcase her listings.

“We had 160 people show up, and it was a lot of fun,” said Ms. Player, who rented a movie theater and mailed out invitations. “It was a way for me to connect with people.”

Stocks advanced sharply Friday, picking up momentum after upbeat economic readings countered some of the bleak sentiment swirling on Wall Street in recent weeks and as investors appeared to sense some stability in the markets.

Stocks opened flat but moved higher upon the arrival of a stronger-than-expected reading on new homes sales for July. That followed a durable goods report that topped expectations.