Construction data in the USA

• Building permits (m/m) (May), fact 0.3%, forecast 0.0%.
• Building permits (May), fact 1,294M, forecast 1,296M.
• New houses starts (m/m) (May), the fact -0.9%, the forecast -0.4%.
• New houses starts (May), fact 1,269M, forecast 1,239M.

The construction report in the USA for May turned out to be ambiguous, showing a slowdown in issuing building permits and an increase in construction volumes. This is exactly the opposite of the percentage indicators indicating a moderate slowdown in the US real estate market.

Fig. 1. New houses starts in the USA

Against the background of restrained weak construction data in the US, the US dollar index, after rapid growth, moved to a correction and limited to support levels: 97.60 and 97.50. Resistance is located at the levels: 97.80 and 97.90.

Fig. 2. The US dollar index chart. The current price is 97.60 (10-year US government bonds yield is the blue line)

Read also: “Martingale and the application of its strategy on cross-rates”

Hanzenko Anton

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