If there were still lasting worries about problems in the housing market then these numbers will go a long way to pushing them out of the market’s mind. Starts rose close to the 2013 highs. The Northeast rose 44% in the regionals and not even a 24.8 fall in the Midwest could dampen the numbers. The South gained 29.0% and the West 18.6%.
Slowly but surely the pieces of the US economy are fitting together but like we are seeing everywhere else, wages and spending in general are still lagging.
USD/JPY has already wiped out the gains to 102.80 and the euro has beaten up the barrier and is making it’s way back towards 1.3330. The support at 1.3330/35 was swiftly brushed aside but the level is acting as resistance on the way back up.
GBP/USD is doing its own thing around 1.6630 after posting a low of 1.6623
US 10 year yields took a spike to 2.38% but have fallen just as quick to 2.367%. It still seems that the bond market just doesn’t want to get on board a recovering US yet and the fight between that and what the dollar want’s to do is likely to see further divergence.
US stock futures don’t need much reason to go up and the S&P is currently up just under 5 tick to 1972 with the Dow up 50 at 16843
