US March housing starts 1319K vs. 1267K expected
Building permits 1354K vs. 1321K expected
- Housing starts 1319K vs 1267K expected. The prior month was revised up to 1295K from 1236.k
- Building permits were higher at 1354K vs 1321K expected. The prior month remained at 1321K (which had already been revised to that level from 1298K initially reported).
- Housing starts were up 1.9% on the month
- Building Permits were up 2.5% on the month
- Single-family housing starts in March were at a rate of 867,000; this is 3.7 percent (±11.8 percent)* below the revised February figure of 900,000.
- The March rate
for multi units in buildings with five units or more was 439,000
- Single-family building permits in March were at a rate of 840,000; this is 5.5 percent (±1.5 percent) below the revised February figure of 889,000.
- Multi unit dwelling building permits were at a rate of 473,000 in March
The USD is higher after the report.
The USDJPY is trading up to 107.13. That is where the 200 hour MA is found. The 100 hour MA is up at 107.168
The EURUSD has moved to the 100 hour MA at 1.2352 on the news. A move below would be more bearish. You
Housing Starts measures the change in the number of new constructions underway. Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.The construction industry is one of the first to go into a recession when the economy declines but also to recover as conditions improve.
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