According to analysts at TD Securities, US housing starts are expected to recover to 1,209k in April (+6.2% m/m) following two consecutive monthly declines that brought starts lower from 1,298k in January.

Key Quotes

“Recent weakness has mostly been driven by a soft showing in starts in the single family segment.”

“Separately, the Philly Fed survey is expected to show a minor improvement in manufacturing activity to 9.0 following a -5.2 decline to 8.5 in April. This will be the second look on the manufacturing sector for May after the stronger-than-expected increase in activity reported by the NY Empire survey.”

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Editors' pick

EUR/USD steady around 1.1160 post-FOMC Minutes

The US Federal Reserve document failed to impress, with the market ignoring the release, overshadowed by the Brexit drama and the more updated statement from Chief Powell last Monday.

EUR/USD News

GBP/USD recovers from 4-month low despite UK’s political uncertainty

Despite growing speculations over the UK PM May’s resignation, GBP/USD pulls itself back from the lowest since mid-January to 1.2665 during the initial Asian session on Thursday.

GBP/USD News

USD/JPY reverses post-FOMC minutes gains to 110.40

The USD/JPY pair runs through fresh offers in early trades and reverses post-FOMC minutes gains to near 110.40, tracking fresh weakness in S&P 500 futures and Treasury yields while the greenback holds steady near 4-week tops across its main competitors.

USD/JPY News

FOMC Minutes April 30-May 1: Patience reaffirmed

The Federal Reserve governors reaffirmed their “patient” rate policy in their meeting earlier this month noting that the hold would remain “for some time.” 

Read more

Gold: Yellow Metal under pressure below 1,280.00 resistance

Gold technical analysis: Yellow Metal under pressure below 1,280.00 resistance. The yellow metal is trading below its main SMAs suggesting bearish momentum in the medium term.

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