US: Pending Home Sales fall by 1.2% in March, less than the 1.6% expected drop

Joel Frank Independent Analyst

US Pending Home Sales fell by 1.2% MoM in March, less than the expected 1.6% drop, after sales fell 4.0% in February, the latest figures from the National Association of Realtors showed on Wednesday. That meant the US Pending Home Sales index fell to 103.7 in March, from 105.0 a month earlier.

Market Reaction

FX markets did not react to the latest US housing figures, with the DXY continuing to trade close to five-year highs in the 103.00 area, as the buck continues to benefit from risk aversion amid heightened geopolitical tensions.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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