Inflation Soft & Housing Starts Solid in Quiet Week
|U.S. Review
Inflation Soft & Housing Starts Solid in Quiet Week
- A strong print for housing starts in June was the most noteworthy piece of economic news in an otherwise quiet data week. Starts jumped 8.3 percent, while building permits also rose a healthy 7.4 percent.
- Import price inflation was subdued in June, although excluding petroleum, prices eked out a gain.
- The Leading Economic Index surged 0.6 percent in June, the largest increase since December 2014. Initial jobless claims matched the second-lowest reading of the expansion this past week, another encouraging sign for economic growth in H2.
Global Review
Good Data on the Economy; Weak Data on Inflation
- The week started with a slightly better-than-expected result for the Chinese economy in the second quarter, with growth topping expectations at 6.9 percent over a year earlier and matching the rate of growth of the first quarter of the year.
- As expected, the ECB kept its policy stance without change but Mario Draghi, the ECB president, sounded a bit more dovish than what markets have been expecting as the monetary institution gets closer to what should be the start of a tightening process.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.