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US housing starts miss, building permits beat in October

Housing starts stand at 1.009 million, a decline from last months upwardly revised 1.038 million, but building permits rise to 1.08 million, up 4.8% from an upwards revised number of 1.031 million.

Currencies are mixed.

US building permits were expected to stand at 1.04 million annualized in October after 1.02  in September (before revisions). Housing starts  carried expectations for 1.03 million, also after 1.02 beforehand.

Earlier in the day, the euro and the pound showed strength while commodity currencies were on the back foot and the yen continued its crash.

The big event of the day is the release of the FOMC Meeting Minutes at 19:00 GMT. The Fed ended QE and had a hawkish stance. Some expect the minutes to counter the statement by expressing worries especially about inflation and the euro-zone, while others see a confirmation of the upbeat tone.


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.