US: Housing Starts decline 4.2%, Building Permits fall 2.4% in October

Housing Starts and Building Permits in the US declined in October.
US Dollar Index clings to strong daily gains slightly below 107.00.

Eren Sengezer FXStreet

The monthly data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 4.2% on a monthly basis in October following September's 1.3% contraction.

In the same period, Building Permits fell by 2.4%, compared to a 1.4% increase recorded in September.

Market reaction

With the initial reaction, the US Dollar Index, which tracks the US Dollar's (USD) performance against a basket of six major currencies, retreated from the daily high it set at 107.13. As of writing, the index was up 0.6% on the day at 106.90.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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