US: Pending Home Sales rise by 0.7% in May vs. -3.7% expected

• Pending Home Sales in the US rose modestly in May.
• US Dollar Index stays in negative territory below 104.00.

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

Market reaction

These figures don't seem to be having a noticeable impact on the dollar's performance against its rivals. As of writing, 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.