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According to analysts at TD Securities, US housing starts will give an update on residential construction for July and the market is looking for a 7.4% rebound to a 1.26m pace after an outsized decline in June.

Key Quotes

“Permits are expected to post a much smaller 1.4% increase to 1.31m.”

“The Philadelphia Fed Index for July will be released alongside housing starts and is expected to dip to 22.0 from 25.8 while consensus looks for initial jobless claims to edge higher to 215k for the week of August 11th.”