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US: Pending home sales up 0.7% in May vs. -3.7% expected

  • US pending home sales increased modestly in May.
  • The US Dollar Index remains in negative territory below 104.00.

Monthly data published by the National Association of Realtors showed on Monday that Pending Home Sales increased 0.7% on a monthly basis in May after April’s decline of 4%. This data was better than the market expectation of a contraction of 3.7%.

Despite this monthly increase, pending home sales decreased by 13.6% in annual terms.

market reaction

These figures do not seem to have a notable impact on the behavior of the dollar against its rivals. At the time of writing, the dollar index was down 0.2% on the day, trading at 103.90. For its part, the Dow Jones Industrial Average and the S&P 500 remained stable.

Source: Fx Street

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