US: Housing Price Index falls to -0.3% in May vs. +0.3% expected

• House prices in the US declined unexpectedly in May.
• US Dollar Index stays deep in red below 95.00 after the data.

The Housing Price Index in the US declined to -0.3% in May, the Federal Housing Finance Agency’s (FHFA) monthly report showed on Wednesday. This reading followed April’s print of +0.1% (revised from +0.2%) and fell short of the market expectation of +0.3%. On a yearly basis, the Housing Price Index was up 4.9%.

Market reaction

The US Dollar Index largely ignored this report and was last seen losing 0.28% on a daily basis at 94.88.