US Housing Price Index rises 0.8% in July vs. 0.5% expected

• House prices in the US continued to rise in July.
• US Dollar Index consolidates gains slightly below 106.00.

House prices in the US rose by 0.8% on a monthly basis in July, the monthly data published by the US Federal Housing Finance Agency showed on Tuesday. This reading followed the 0.4% increase recorded in June and came in higher than the market expectation for a 0.5% growth.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at 0.1% on a yearly basis in July, up from -2.2% in June.

Market reaction

The US Dollar Index showed no immediate reaction to these data and was last seen trading flat on the day at 105.95.