US: Housing Starts rise 2.2% in April, Building Permits decline 1.5%

Building Permits in the US declined unexpectedly in April.
US Dollar Index clings to strong daily gains near 103.00.

Eren Sengezer FXStreet

The monthly data published by the US Census Bureau revealed on Wednesday that Housing Starts rose by 2.2% on a monthly basis in April following March 4.5% decline. This reading came in better than the market expectation for an increase of 1.9%.

In the same period, Building Permits fell 1.5%, compared to analysts' estimate for a 3% growth.

Market reaction

The US Dollar Index preserves its bullish momentum after these data and was last seen rising 0.4% on the day at 103.00.

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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