Construction data in the USA
- Building permits (m/m) (November), fact 5.0%, forecast -0.4%.
- Building permits (November), fact 1,328M, forecast 1,259M.
- Housing starts (November), fact 1,256M, forecast 1,225M.
- Housing starts (m/m) (November), fact of 3.2%, forecast -0.2%.
The report on construction in the United States for November was very positive, returning optimism about the real estate market in the United States, which remains near multi-year highs.
Fig. 1. Graph of the number of building permits issued in the USA
At the same time, the report itself had a little impact on the dynamics of the dollar index, although it strengthened to some extent the upward correction. Pressure on the US currency continues to be on the part of reducing the likelihood of higher interest rates at the December meeting of the US Federal Reserve System, which will take place tomorrow. Under the conditions of an oversold American dollar, we can expect a moderate correction to resistance levels: 97.00 and 96.80. Support is located at levels: 96.70 and 96.50.
Fig. 2. The US dollar index chart. The current price is 96.90 (10-year government bonds yield is the blue line)
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Hanzenko Anton
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