US Housing data for August

• Building permits  (m / m) (Aug),  fact -5.7%, forecast  -0.1%.
• Building permits (Aug), fact 1,229M, forecast 1,310M.
• Current account balance (Q2), fact -101,5B, forecast -103,5B.
• Housing starts (m / m) (Aug), fact 9.2%, forecast 5.8%.
• Housing starts (Aug),  fact  1,282M,  forecast 1,235M.

General tone of the report was very positive. But indicator of the number of issued building permits caused fears because it continues to decline from April and meets the minimum values ​​of the current year.

Fig. 1. US building permits chart

At the same time, indicators of housing starts and trade balance retain positive dynamics and fully justify the positivity of the report.

The US dollar index is tend to growth on the correction and positive data for the US. As a result, a resistance level test of 94.70-80 is possible, but the descending dynamics is preserved.

Fig. 2. The US dollar index chart. The current price is 94.60 (10-year government bonds yield is a blue line)

 

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Hanzenko Anton

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