US: HOUSING STARTS JUMP 21.7% IN MAY, BUILDING PERMITS RISE 5.2%

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  • Housing Starts in the US rose sharply in May.
  • US Dollar Index gained traction and rose above 102.50.

The monthly data published by the US Census Bureau revealed on Wednesday that Housing Starts rose 21.7% on a monthly basis in May following the 2.9% decline (revised from 2.2%) recorded in April. This reading surpassed the market expectation for a decline of 0.8% by a wide margin.

In the same period, Building Permits rose 5.2%, compared to analysts' estimate for a 5% contraction.

Market reaction

The US Dollar Index gained traction with the immediate reaction to these data and was last seen posting small daily gains at 102.55

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