US: Housing Price Index rises 0.7% in April vs. 0.3% expected

• House prices in the US continued to rise in April.
• US Dollar Index continues to stretch lower below 102.50.

House prices in the US rose by 0.7% on a monthly basis in April, the monthly data published by the US Federal Housing Finance Agency showed on Tuesday. This reading followed the 0.5% increase recorded in March and came in better than the market expectation of +0.3%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at -1.7% on a yearly basis in April, down from -1.1% recorded in March.

Market reaction

The US Dollar Index continues to trade deep in negative territory below 102.50 after this data.