US: Housing Price Index falls 0.6 in July vs. 0.7% expected

House prices in the US declined in July.
US Dollar Index stays in negative territory below 114.00.

Eren Sengezer FXStreet

The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index fell by 0.7% on a monthly basis in July. This print followed June's increase of 0.1% and came in lower than the market expectation of +0.7%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at 16.1% on a yearly basis in July, compared to analysts' estimate of 17%.

Market reaction

These numbers don't seem to be impacting the dollar's market valuation in a significant way. As of writing, the US Dollar Index was down 0.3% on the day at 113.78.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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