US: Housing Price Index declines 0.1% in December vs -0.6% expected

• House prices in the US declined at a softer pace than expected in December.
• US Dollar Index stays in negative territory at around 104.50.

House prices in the US declined by 0.1% on a monthly basis in December, the monthly data published by the US Federal Housing Finance Agency showed on Tuesday. This reading came in better than the market expectation for a decrease of 0.6%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at 4.6% on a yearly basis in December, down from 6.8% in November and lower than analysts' estimate of 6.1%.

Market reaction

The US Dollar stays under modest selling pressure after this report and the US Dollar Index was last seen losing 0.15% on the day at 104.47.