US: Pending Home Sales surge by 8.8% in August vs. 3.2% expected

Pending Home Sales in US rose at a stronger pace than expected in August.
US Dollar Index stays in the positive territory above 94 after the data.

Eren Sengezer FXStreet

Pending Home Sales in the US rose by 8.8% on a monthly basis in August following July's increase of 5.9%, the data published by the US National Association of Realtors showed on Wednesday. This reading came in better than the market expectation of 3.2%.

On a yearly basis, Pending Home Sales increased by 24.2% in August, comparesd to 15.5% in July.

Market reaction

These figures don't seem to be having a significant impact on the USD's performance against its rivals. As of writing, the US Dollar Index was up 0.2% on the day at 94.06.

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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