US: Pending Home Sales decline by 5.2% in March vs. +0.5% expected

• Pending Home Sales in the US fell sharply in March.
• US Dollar Index holds in positive territory above 101.50.

Pending Home Sales in the US declined by 5.2% on a monthly basis in March, the data published by the National Association of Realtors showed on Thursday. This reading followed February's no-change (revised from +0.8%) and came in much worse than the market expectation for an increase of 0.5%.

On a yearly basis, Pending Home Sales fell by 23.2%, compared to analysts' estimate for a decline of 22.8%.

Market reaction

The US Dollar Index showed no immediate reaction to these data and was last seen rising 0.2% on the day at 101.65.