US: Housing Price Index rises 0.7% in May vs 0.2% expected

• House prices in the US continued to rise in May.
• US Dollar Index stays in positive territory near 101.50.

House prices in the US rose by 0.7% on a monthly basis in May, the monthly data published by the US Federal Housing Finance Agency showed on Tuesday. This reading followed the 0.7% increase recorded in April and came in better than the market expectation of +0.2%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at -1.7% on a yearly basis in May, up from -2.2% in April.

Market reaction

The US Dollar Index continues to trade deep in positive territory near 101.50 after this data.