US Housing Starts tumbled 11.3% in August, Building Permits jumped 6.9%

Housing Starts drops sharply while Building Permits rose above expectations in the US in August.
US Dollar Index stays near daily lows below 105.00 after the data.

Matías Salord FXStreet

The monthly data published by the US Census Bureau revealed on Tuesday that Housing Starts tumbled 11.3% on a monthly basis in August, following a 2% increase (revised from 3.9%) recorded in July, to a seasonally adjusted annual rate of 1,283 million. This reading came in worse than the market expectation for a decline to 1,44 million.

In the same period, Building Permits, which rose 0.1% in July, increased 6.9%., to a seasonally adjusted annual rate of 1,543,000; surpassing the 1,445,000 of market consensus.

Market reaction

The US Dollar Index showed no immediate reaction to these figures and was last seen fluctuating near daily lows under 105.00.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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