August US pending home sales

  • Prior was +1.3% (revised to +1.2%)
  • Pending home sales +4.0% y/y vs +2.6% y/y expected
  • Prior y/y reading was -2.2% (revised to -2.4%)

There must have been a longer-term downward revision somewhere in order to produce that 4% rise in y/y sales.

Overall, it's a negative report but there aren't many worries about the US housing market and this won't weight on the US dollar.