- Pending Home Sales in the US unexpectedly fell in May.
- US Dollar Index holds in positive territory, moves off highs.
Pending Home Sales in the US declined by 2.7% on a monthly basis in May, the data published by the National Association of Realtors showed on Thursday. This reading followed April’s 0.4% slide (revised from 0) and came in worse than the market expectation for an increase of 0.2%. “Month over month, contract signings decreased in three U.S. regions but jumped in the Northeast”, said NAR in the report.
On a yearly basis, Pending Home Sales fell by 22.2%, compared to analysts’ estimate for a decline of 21.9%.
Market reaction
The US Dollar Index is up on Thursday, trading above 103.00. It spiked following US Q1 GDP and Jobless Claims data and recently pulled back, trimming gains.
This article was originally published by Fxstreet.com. Read the original article here.