Durable goodsThe report dented some of the hawkishness built into U.S. interest rates, though they are expected to remain higher for longer, analysts said.
The National Association of Realtors (NAR) said its Pending Home Sales Index, based on signed contracts, jumped 8.1% last month, the biggest increase since June 2020.
Traders now expect the Fed to raise interest rates to about 5.4% in July, according to pricing in futures markets .
At the beginning of February, they envisaged rates rising to a peak of just 4.9%.
The dollar index , which measures the currency against six major peers, fell 0.513% and is on track to snap a four-month losing streak.