US: Pending Home Sales fall by 2.8% in January vs. 0% expected

Pending Home Sales in US fell sharply in January.
US Dollar Index stays deep in the negative territory below 89.80.

Eren Sengezer FXStreet

Pending Home Sales in the US decreased by 2.8% on a monthly basis in January following December's increase of 0.5%, the data published by the US National Association of Realtors showed on Thursday. This reading came in higher than the market expectation of 0%.

Further details of the publication showed that Pending Home Sales on a yearly basis rose by 13%, compared to analysts' estimate of 19.5%.

Market reaction

US Dollar Index remains under strong bearish pressure after this report and was last seen losing 0.5% on the day at 89.73.

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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