US: Pending Home Sales rise by 0.8% in February vs. -3% expected

Pending Home Sales in the US increased unexpectedly in February.
US Dollar Index clings to modest recovery gains slightly above 102.50.

Eren Sengezer FXStreet

Pending Home Sales in the US rose by 0.8% on a monthly basis in February, the data published by the National Association of Realtors showed on Wednesday. This reading followed January's increase of 8.1% and came in better than the market expectation for a decrease of 0.8%.

On a yearly basis, Pending Home Sales declined by 21.1%, compared to analysts' estimate for a decline of 29.4%.

Market reaction

The US Dollar Index showed no immediate reaction to these data and was last seen trading modestly higher on the day at 102.60.

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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