US: Pending Home Sales increase by 8% in May vs. -0.8% expected
|- Pending Home Sales in the US rose sharply in May.
- US Dollar Index stays in the positive territory around 92.20.
Pending Home Sales in the US rose by 8% on a monthly basis in May following April's contraction of 4.4%, the data published by the US National Association of Realtors showed on Wednesday. This reading beat analysts' estimate for a decrease of 0.8% by a wide margin.
Further details of the publication revealed that Pending Home Sales were up 13.1% on a yearly basis, compared to the market expectation of 49.2%.
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.17% on the day at 92.22.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.