U.S. Construction Data

• Building permits (m/m) (October), fact 5.0%, forecast 0.0%.
• Building permits (October), fact 1,461M, forecast 1,385M.
• Housing starts (October),  fact  1.314M, forecast 1.320M.
• Housing starts (m/m) (oct), fact  3.8%,  previous value  -7.9%.

Data on the US construction in October turned out to be very positive, showing a noticeable acceleration in the growth in the number of construction permits issued. The volume of construction of new houses slowed down a bit, but maintained an upward trend.

Fig. 1. Building permits issued in the USA

Despite the very positive data on US construction, the US dollar remains under the pressure. At the same time, the weakening of the American dollar can be traced against commodity currencies and is associated with the preservation of pessimism about the US – China trade agreement.

From the start of the day, the US dollar index has been trading in the side channel from 97.90 to 97.70. This is due to the existing uncertainty in trade agreements and relatively low market activity.

Fig. The US dollar index chart. Current price – 97.80 (10-year US government bonds yield – blue line)

Read also: “What indicators choose Forex traders  (Part 2)”

Hanzenko Anton

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

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