The Housing starts in the United States fell 14.8% during the month of January after growing 3.3% in December, as published by the Census Bureau. This is the first drop recorded by the indicator after four months of increases. Furthermore, we are faced with the steepest decline since April 2020. In total, housing starts fell to 1,331,000 from 1,562,000, falling below the 1,509,000 forecast.
The construction permits fell 1.5% after rising 1.8% the previous month. The drop in permits stopped at 1,470,000 from 1,493,000, disappointing the expected 1,509,000.
dollar reaction
The Dollar Index (DXY) has risen strongly after the data, shooting from 104.40 to 104.67, a new high for the day. At the time of writing, the greenback index is trading above 104.55, gaining 0.28% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
