US: Housing Price Index rises 0.5% in February vs. -0.2% expected

• House prices in the US increased modestly in February.
• US Dollar Index clings to modest daily gains slightly above 101.50.

House prices in the US rose by 0.5% on a monthly basis in February, the monthly data published by the US Federal Housing Finance Agency showed on Tuesday. This reading followed January's increase of 0.1% (revised from +0.2%) and came in better than the market expectation for a decrease of 0.2%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at +0.4% on a yearly basis in February, down from +2.6% recorded in January.

Market reaction

These data don't seem to be having an impact on the US Dollar's performance against its rivals. As of writing, the US Dollar Index was up 0.25% on the day at 101.55.