US: Housing Starts decline by 7% in July, Building Permits rise by 2.6%

• Housing Starts in US contracted sharply in July.
• US Dollar Index continues to move sideways above 93.00.

Housing Starts in the US declined by 7% on a monthly basis in July after increasing by 3.5% in June, 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 5.3% in June, was up 2.6% in July.

Market reaction

These figures were largely ignored by market participants. As of writing, the US Dollar Index was posting small daily losses at 93.05.