BREAKING: USD sees little reaction to housing market data

Building permits in the US rose 2.6 % from a month earlier to a seasonally adjusted annual rate of 1.635 million in July, following a three-month period of declines and beating market expectations of 1.61 million. The volatile multi-segment surged 11.2 % to a rate of 587 thousand, while single-family authorizations dropped 1.7 % to a rate of 1.048 million.

Housing Starts decreased to 1.534 million in July from 1.65 million units in June. It is the lowest reading in 3 months. Single-family housing starts were at a rate of 1,111,000; this is 4.5 % below the revised June figure of 1,163,000. The July rate for units in buildings with five units or more was 412,000.

EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1720 level. Source: xStation5