US: Housing Starts rise by 3.6% in May, Building Permits decline by 3.6%

FX
  • Housing Starts in US rebounded following April’s sharp decline. 
  • US Dollar Index extends sideways grind around 90.50.

Housing Starts in the US rose by 3.6% on a monthly basis in May following April’s drop of 12.1% (revised from -9.5%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday.

Further details of the publication revealed that Building Permits, which declined by 1.3% in April, was down 3% in May.

Market reaction

This report doesn’t seem to be having a significant impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was virtually unchanged on the day at 90.50.

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