Housing Starts Change arrives at +4.3% in May – NDDFX Forex Broker

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Fundamental Forex Analysis

Housing Starts Change arrives at +4.3% in May

by Ken Robinson 17.06.2020

US Housing Starts and Building Permits rebounded sharply in May.
US Dollar Index stays in positive territory above 97.00 after data.

Housing Starts in the US increased by 4.3% on a monthly basis in May following April’s sharp decline of 26.4% (revised from 30.2%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday.

Further details of the publication revealed that Building Permits rose by 14.4% in the same period after falling 21.4% in April.

“Privately-owned housing starts in May were at a seasonally adjusted annual rate of 974,000,” the press release read. “Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,220,000.”

Market reaction

The US Dollar Index largely ignored this data and was last seen gaining 0.15% on the day at 97.18.

Ken Robinson

A seasoned professional with more than 30 years’ experience in foreign exchange, interest rates and commodities, Ken Robinson is a senior market analyst with NDDFX, responsible for providing timely and relevant market commentary and live market analysis throughout the Asia-Pacific region. Having previously worked in Europe, since moving to Singapore he worked with several leading institutions including Bloomberg, Saxo Capital Markets and Informa Global Markets, proving FX strategies based on a combination of technical and fundamental analysis as well as market flow information. Andrew began his career as an FX dealer with NatWest and the Royal Bank of Scotland in the UK.

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