US: Pending Home Sales increase by 1.9% in March vs. 5% expected

Pending Home Sales in the US rose less than expected in March.
US Dollar Index stays in the positive territory above 90.70.

Eren Sengezer FXStreet

Pending Home Sales in the US rose by 1.9% on a monthly basis in March following February's contraction of 11.5%, the data published by the US National Association of Realtors showed on Thursday. This reading came in worse than the market expectation for an increase of 5%.

Further details of the publication revealed that Pending Home Sales were up 23.3% on a yearly basis in March.

Market reaction

The US Dollar Index continues to extend its rebound after this report and was last seen gaining 0.18% on the day at 90.75.

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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