Data on the construction of new homes in the US in April

• The number of issued construction permits in the US is 1.352M, the forecast is 1.347M.
• The volume of construction of new homes in the US is -1.8%, the forecast is -2.3%

Despite the ambiguity of the report on the construction of new homes in the US in April, the US real estate market continues to maintain an upward trend, as evidenced by the general upward trend in the laid foundations and the number of permits issued.

At the same time, this report is likely to have little impact on the dynamics of the US dollar, which is caused by a significant overbought of index of the US dollar against the basket of major competitors and weak dynamics of the main driver of strengthening of the American 10-year US Treasury securities, which slowed growth and traded at 3.07 %.

The dollar index, in turn, is limited by resistance level 93.60, traded near the high of this year. The further growth of the American is limited by the resistance level of 93.60-70.

Graph of the US dollar index. The current price is 93.50 (the yield of 10-year government bonds is a blue line)

Hanzenko Anton