US: Pending Home Sales decline by 1% in July vs. -4% expected

• Pending Home Sales in the US continued to fall in July.
• US Dollar Index clings to strong daily gains near 109.00.

Pending Home Sales in the US declined by 1% on a monthly basis in July, the data published by the National Association of Realtors showed on Wednesday. This reading followed June's decrease of 8.9% and came in better than the market expectation for a contraction of 4%.

On a yearly basis, Pending Home Sales decreased by 19.9% in July.

Market reaction

The US Dollar Index edged slightly higher with the immediate reaction to this report and was last seen rising 0.5% on a daily basis at 109.05.