US: Pending Home Sales decline by 4% in November vs +0.6% expected

• Pending Home Sales in the US continued to contract in November.
• US Dollar Index stays in negative territory near 104.00.

Pending Home Sales in the US declined by 4% on a monthly basis in November, the data published by the National Association of Realtors showed on Wednesday. This reading followed October's decrease of 4.6% and came in much worse than the market expectation for an increase of 0.6%.

On a yearly basis, Pending Home Sales plunged by 37.8%, compared to analysts' estimate for a decline of 36.7%.

Market reaction

The US Dollar Index showed no immediate reaction to these figures and was last seen losing 0.22% on the day at 104.04.