US: Housing Starts fell 3.6% in January, Building Permits rose 9.2%
- Housing data in US come in stronger than expected in January.
- US Dollar Index continues to push higher above 99.50.
Housing Starts in January declined by 3.6% following December's 17.7% increase, the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development revealed on Wednesday. This reading came in much better than the market expectation for a fall of 30.7%.
Further details of the report showed that Building Permits in the same period rose 9.2% to better analysts' estimate for a decline of 0.1%.
Combined with the upbeat PPI readings, the housing market data helps the greenback preserve its strength. As of writing, the US Dollar Index was up 0.13% on the day at 99.58.