US: Housing Price Index rises by 1.6% in April vs. 1.5% expected

• House prices in the US rose by 1.6% on a monthly basis in April.
• US Dollar Index clings to daily gains near 104.30.

The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index rose by 1.6% on a monthly basis in April. This print matched March's reading and came in slightly higher than the market expectation for an increase of 1.5%.

On a yearly basis, home prices in the US increased by 18.8%.

Additionally, the S&P/Case-Shiller Home Price Index edged higher to 21.2% annually in April from 21.1%.

Market reaction

There was no immediate market reaction to these figures and the US Dollar Index was last seen rising 0.37% on a daily basis at 104.33.