US: Existing Home Sales rise 0.2% in May vs. -0.6% expected

• Existing Home Sales in the US rose unexpectedly in May.
• US Dollar Index stays in daily range above 102.00.

Existing Home Sales in the US rose 0.2% in May to an adjusted annual rate of 4.3 million, the National Association of Realtors (NAR) reported on Thursday. This reading followed the 3.2% decline recorded in April and came in better than the market expectation for a decrease of 0.6%.

Commenting on the report, "mortgage rates heavily influence the direction of home sales," said NAR Chief Economist Lawrence Yun. "Relatively steady rates have led to several consecutive months of consistent home sales."

Market reaction

The US Dollar showed no immediate reaction to this data and the US Dollar Index was last seen trading modestly higher on the day at 102.20.