Today’s data in the US showed that Housing Starts rose 5% in May (above the 1.4% increase of market consensus) while Building Permits fell 4.6% (vs -1.4). Analysts at Wells Fargo, point out that May’s increase was led by a surge in homebuilding in the Midwest. Key Quotes: “Housing starts rose more than expected in May, climbing 5 percent to a 1.35 million-unit pace. Both single-family starts (+3.9 percent) and multifamily starts (+7.5 percent) rose in May. Permits fell, however, dropping 4.6 percent to a 1.30 million-unit pace from an upwardly revised 1.36 million-unit pace in April.” “Given that so much of May’s increase was in the Midwest, there may be a temptation to downplay the improvement in the headline number.” “Rising prices for lumber and other building materials are also causing many smaller homebuilders to delay projects until later this year, when lumber prices should ease somewhat.” “Starts had surged earlier this year, however, and saw less of a pick up this spring than they typically do, resulting in a seasonally-adjusted decline. On a year-to-date basis, housing starts are running 22.4 percent ahead of their year-ago pace.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD trades near yearly highs above mid-1.32s as WTI stays below $65 FX Street 5 years Today's data in the US showed that Housing Starts rose 5% in May (above the 1.4% increase of market consensus) while Building Permits fell 4.6% (vs -1.4). Analysts at Wells Fargo, point out that May's increase was led by a surge in homebuilding in the Midwest. Key Quotes: "Housing starts rose more than expected in May, climbing 5 percent to a 1.35 million-unit pace. Both single-family starts (+3.9 percent) and multifamily starts (+7.5 percent) rose in May. Permits fell, however, dropping 4.6 percent to a 1.30 million-unit pace from an upwardly revised 1.36 million-unit pace in April." "Given that so… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.