US: Pending Home Sales increase by 1.9% in March vs. 5% expected

• Pending Home Sales in the US rose less than expected in March.
• US Dollar Index stays in the positive territory above 90.70.

Pending Home Sales in the US rose by 1.9% on a monthly basis in March following February's contraction of 11.5%, the data published by the US National Association of Realtors showed on Thursday. This reading came in worse than the market expectation for an increase of 5%.

Further details of the publication revealed that Pending Home Sales were up 23.3% on a yearly basis in March.

Market reaction

The US Dollar Index continues to extend its rebound after this report and was last seen gaining 0.18% on the day at 90.75.