BREAKING: USD gains after strong housing market data

US housing market data for November was released at 1:30 pm GMT today. Market was expected to show a month-over-month declines in building permits and housing starts. Actual report turned out to be much stronger-than-expected and showed a significant increase in housing starts as well as an in-line building permits.

US dollar gained following the release, with EURUSD moving around 0.1% lower in a knee-jerk move. Release also triggered a pullback on equity markets and GOLD.

1:30 pm GMT - US, housing market data for November

• Building permits: 1460k vs 1465k expected (prev. 1498k)
• Building permits growth: -2.5% MoM expected vs -2.2% MoM. (prev. +1.8% MoM)
• Housing starts: 1560k vs 1360k expected (prev. 1.372k)
• Housing starts growth: +14.8% MoM vs -0.9% MoM expected (prev. +1.9% MoM)

Source: xStation5