US: Housing Price Index rises 0.7% in April vs. 0.3% expected

House prices in the US continued to rise in April.
US Dollar Index continues to stretch lower below 102.50.

Eren Sengezer FXStreet

House prices in the US rose by 0.7% on a monthly basis in April, the monthly data published by the US Federal Housing Finance Agency showed on Tuesday. This reading followed the 0.5% increase recorded in March and came in better than the market expectation of +0.3%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at -1.7% on a yearly basis in April, down from -1.1% recorded in March.

Market reaction

The US Dollar Index continues to trade deep in negative territory below 102.50 after this data.

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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