US: Housing Price Index rises 1.7% in May vs. 1.8% expected

• US FHFA Housing Price Index rose 1.7% in May.
• US Dollar Index stays in the negative territory around 92.50.

The Housing Price Index released by the US Federal Housing Finance Agency (FHFA) arrived at +1.7% in May following April's increase of 1.8%. This reading fell short of the market expectation of 1.8%.

Meanwhile, theS&P/Case-Shiller Home Price Indices rose to +17% on a yearly basis in May from 15% in April, surpassing analysts' estimate of 16.4%.

Market reaction

The USD continues to weaken against its rivals after this data and the US Dollar Index was last seen losing 0.13% on a daily basis at 92.49.