US Pending Home Sales surge in May above Expectations

The data published, on monthly basis, by the National Association of Realtors showed on Monday that Pending Home Sales rose by 0.7% in May following April’s decline of 4%.

This data came in better than the market expectation for a contraction of 3.7%. Despite this monthly increase, Pending Home Sales were down 13.6% on a yearly basis.

These figures don’t seem to be having a noticeable impact on the US dollar’s performance against its rival currencies. The US Dollar Index was down 0.2% on the day at 103.90. Meanwhile, The Dow Jones Industrial Average and the S&P 500 indexes were both flat on the day.