5_800x533_L_1412164667.jpg)
Investing.com - The S&P/Case-Shiller home price index rose at the slowest pace in 21 months in August, dampening optimism over the housing sector, industry data showed on Tuesday.
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 5.6% in August from a year earlier, below forecasts for a gain of 5.8% and following a gain of 6.7% in July.
Month-on-month, U.S. home prices rose by a non-seasonally adjusted 0.2% in August, disappointing forecasts for a 0.5% gain and following an increase of 0.6% in July.
The deceleration in home prices continues,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.
EUR/USD was trading at 1.2755 from around 1.2746 ahead of the release of the data, while GBP/USD was at 1.6175 from 1.6167 earlier.
Meanwhile, U.S. stock futures pointed to a mildly higher open. The Dow futures indicated a gain of 0.2% at the open, the S&P 500 futures pointed to a rise of 0.25%, while Nasdaq 100 futures advanced 0.35%.
Elsewhere, in the commodities market, gold futures traded at $1,233.00 a troy ounce, compared to $1,232.40 ahead of the data, while crude oil traded at $81.23 a barrel from $81.32 earlier.