- U.S. home construction starts rise to 1.452 million vs. exp. 1.45 million and the previous level of 1.398 million
- This is obviously positive from the perspective of the economy in the short term. Permits are slightly worse, but here too we are seeing a rebound.
- Building permits for July: 1.442 million vs 1.46 million exp. and against a previous level of 1.441 million.
- We also have another decline in mortgage applications at 0.8% weekly, with the previous decline at 3.1% weekly.
EURUSD remains under supply pressure, although market hesitation was seen after the publication itself. Currently, the area around the 1.09 level is being tested again. Last week, the downward sequence formed in mid-July was violated, although the pair eventually resumed declines and scored a new local low earlier this week. A descent below 1.088 could mean that the entire upward impulse from late May to mid-July has been wiped out
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Source: XTB Research, US Census Bureau, Macrobond, NAR
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