US Housing Price Index falls 0.6 in July

U.S. house prices fell in July for the first time in two years, as the market underwent a “forceful deceleration” due to rising borrowing costs and a slump in consumer confidence.

The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index fell by 0.7% monthly in July. This print followed June’s increase of 0.1% and came in lower than the market expectation of +0.7%.

These numbers don’t seem to significantly impact the dollar’s market valuation. As of writing, the US Dollar Index was down 0.3% on the day at 113.78.