US: Housing Starts decline by 9.6% in July, Building Permits fall by 1.3%

Housing Starts in the US fell sharply in July.
US Dollar Index edged slightly lower with the initial reaction.

Eren Sengezer FXStreet

The monthly data published by the US Census Bureau showed on Tuesday that Housing Starts declined by 9.6% on a monthly basis in July following the 2.4% increase recorded in June. Moreover, Building Permits fell by 1.3% in the same period.

"Single‐family housing starts in July were at a rate of 916,000; this is 10.1% below the revised June figure of 1,019,000," the publication further read.

Market reaction

The US Dollar Index (DXY) retreated modestly from the 20-day high it touched at 106.95 earlier in the day with the immediate market reaction. As of writing, the DXY was up 0.3% on the day at 106.80.

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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