US real estate data
- The number of building permits in the US (m / m), fact -2.2%, forecast 2.2%.
- The number of building permits in the US, fact 1,273M, forecast 1,330M.
- The volume of housing starts in the US (m / m), fact -12.3%, forecast -2.2%.
- The volume of housing starts in the US, fact 1,173M, forecast 1,320M.
Data on the construction of new homes in the US unexpectedly deteriorated in June. Moreover, both in terms of permits and direct construction, against the background of the general ascending dynamics of real estate in the US and not a significant slowdown. The conditions of overbought American dollar and the expectation of a speech by the Federal Reserve Chair can serve as an excuse for correcting positions.
Fig. 1. Graph of the number of issued building permits in the US
The US dollar index was under pressure on a weak construction report in the US, which is also reinforced by the technical correction and the expectation of the speech of US Federal Reserve Chairman Powell. Concerns about the real estate market in the text of the upcoming speech can strengthen the negative mood for the American dollar.
The main levels of support for the American dollar are the marks: 95.00 and 94.80. Resistance is 95.50-60.
Fig. 2. The US dollar index chart. The current price is 95.20 ( 10-year government bonds yield is a blue line)
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Hanzenko Anton
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