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Fundamental Forex Analysis

Housing Starts Change arrives at +4.3% in May

  • 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.

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