US: Pending Home Sales surge by 8.8% in August vs. 3.2% expected

• Pending Home Sales in US rose at a stronger pace than expected in August.
• US Dollar Index stays in the positive territory above 94 after the data.

Pending Home Sales in the US rose by 8.8% on a monthly basis in August following July’s increase of 5.9%, the data published by the US National Association of Realtors showed on Wednesday. This reading came in better than the market expectation of 3.2%.

On a yearly basis, Pending Home Sales increased by 24.2% in August, comparesd to 15.5% in July. 

Market reaction

These figures don’t seem to be having a significant impact on the USD’s performance against its rivals. As of writing, the US Dollar Index was up 0.2% on the day at 94.06.