US: Pending Home Sales decline by 8.6% in June vs. -2% expected

• Pending Home Sales in the US fell sharply in June.
• US Dollar Index holds steady at around 107.00.

The monthly data published by the National Association of Realtors showed on Wednesday that Pending Home Sales declined by 8.6% on a monthly basis in June following May's growth of 0.4%. This print came in much worse than the market expectation for a decrease of 2%. 

On a yearly basis, Pending Home Sales were down by 20%, compared to analysts' estimate of -7.3%.

Market reaction

Ahead of the Federal Reserve's policy announcements, these data failed to trigger a noticeable market reaction. As of writing, the US Dollar Index was posting modest daily losses at 107.05.