US: Pending Home Sales fall by 4.1% MoM in February versus expected 1.0% gain

Joel Frank Independent Analyst

The US Pending Home Sales index fell by 4.1% MoM in February to 104.9, data released by the National Association of Realtors on Friday showed. This was below the expected 1.0% MoM gain. Versus February 2021, the Pending Home Sales index was down 5.4%.

Market Reaction

There was no notable market reaction to the latest US data with the focus instead on upcoming Fed speak and on recent hawkish revisions to major US bank's forecasts for Fed policy in the coming years. The DXY continues to trade largely unchanged versus pre-data levels in the 98.60s.

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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