BREAKING: USD ticks lower after US housing market data

US housing market data for September was released today at 1:30 pm BST. Data was expected to show significant increase in housing starts as well as a quite significant drop in building permits. 

Actual report showed a smaller-than-expected increase in housing starts as well as small-than-expected drop in building permits. Nevertheless, US housing market data is considered second-tier report and rarely triggers big market reaction. This was also the case today with USD seeing a small downtick following the release.

US, housing market data for September.

• Building permits: 1473k vs 1450k expected (1541k previously)
  • Growth: -4.4% MoM vs -5.7% MoM expected (+6.8% MoM previously)
• Housing starts: 1358k vs 1380k expected (1283k previously)
  • Growth: +7.0% MoM vs +7.8% MoM expected (-11.3 MoM previously)