U.S. Construction Data

• Building permits (m/m) (July), fact 8.4%, forecast 3.1%.
• Building permits (July), fact 1,336M, forecast 1,270M.
• Housing starts (m/m) (July), fact -4.0%,  previous value -1.8%.
• Housing starts (July), fact 1,191M, forecast 1,257M.

U.S. construction data were mixed. So, the number of issued building permits reached its maximum value for the year. The volume of construction of new houses has remained high. As a result, this report can be considered positive and one that indicates the strength of the US economy.

Fig. 1. Building permits issued in the USA

The US dollar accelerated growth on published data and strengthened the growth of optimism in the market, accelerating upward dynamics, but remaining limited by overbought and resistance levels: 98.40 and 98.50. Support is located at 98.20 and 98.10.

Fig. 2. The US dollar index chart. Current price – 98.30 (10-year US government bonds yield – blue line)

Read also: “The oil market and its main drivers in 2018”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. A new front opens in the trade war
2. Gold in the light of current events. How long is its growth
3. A new round of trade war: duties, restrictions, prospects

Current Investment ideas:

1. Selling Alcoa shares makes a profit! Three reasons to connect now!
2. The trade war for Boeing: good or bad and how can we make money from it!