US: Housing Price Index falls 0.6 in July vs. 0.7% expected

• House prices in the US declined in July.
• US Dollar Index stays in negative territory below 114.00.

The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index fell by 0.7% on a monthly basis in July. This print followed June's increase of 0.1% and came in lower than the market expectation of +0.7%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at 16.1% on a yearly basis in July, compared to analysts' estimate of 17%.

Market reaction

These numbers don't seem to be impacting the dollar's market valuation in a significant way. As of writing, the US Dollar Index was down 0.3% on the day at 113.78.