Construction data in the USA - Ester Holdings

Construction data in the USA

  • Building permits (m / m) (September), fact -0.6%, forecast 2.1%.
  • Building permits (September), fact 1,241M, forecast 1,278M.
  • Housing starts (September), fact 1,201M, forecast 1,220M.
  • Housing starts (m / m) (September), fact -5.3%, forecast -4.5%.

The housing report in the US in September was very negative, despite weak expectations. The main negative factor in the report was the number of building permits issued, which remains near the annual lows.

Fig. 1.  The US Building permits chart

 

As a result, this pessimistic report may cause a decrease in the US dollar against a basket of major competitors after increase from the start of the day. Separately, it is worth noting the rapid decline in the US state bonds yield, which accelerated the decline on this news. In this case, the significant support will be on the level of 95.30. Return below this level will open the way to 95.00.

Fig. 2. The US dollar index chart. The current price is 95.40 (10-year government bonds yield is the blue line)

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