We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more
Real Time News
  • Precious Metals Update: #Gold 1471.74 (+0.23%), #Aluminum 1755.00 (+0.80%), and #Copper 5849.00 (+0.64%) [delayed]
  • Event risks for the remainder of the week includes ECB's Financial Stability Review, $CAD Consumer Confidence, #USD FOMC Meeting Minutes, $JPY CPI reading, and ECB President Lagarde will speak in Frankfurt Check out our economic calendar to stay current on the latest releases https://t.co/8Jl5Va6CiQ
  • 🇺🇸 USD Net Long-term TIC Flows (SEP), Actual: $49.5b Expected: N/A Previous: -$41.2b https://www.dailyfx.com/economic-calendar#2019-11-18
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: France 40: 0.19% Germany 30: 0.09% Wall Street: -0.01% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Gz8GGSIMZU
  • #Bitcoin’s price outlook has weakened further after the coin broke beneath its 50-day moving average. Get your $btc market update from @PeterHanksFX here: https://t.co/MkXqsmNVEj https://t.co/3jo7t27leS
  • RT @FactSet: 113 $SPX companies have cited the term "tariff" during earnings calls for Q3, which is 13% below the number for Q2 (130) over…
  • House Leader Hoyer says House will vote Tuesday on Stopgap funding bill
  • Heads Up:🇺🇸 USD Net Long-term TIC Flows (SEP) due at 21:00 GMT (15min), Actual: N/A Expected: N/A Previous: -$41.1b https://www.dailyfx.com/economic-calendar#2019-11-18
  • Senate Leader Mcconnell says Trump ready to sign stopgap spending to December 20th -BBG
  • FX Spot Update: $EUR 1.1076 $JPY 108.6410 $GBP 1.2960 $CHF 0.9884 $CAD 1.3209
U.S. Housing Market Data Disappoints; Housing Starts to Lowest Since April 2009

U.S. Housing Market Data Disappoints; Housing Starts to Lowest Since April 2009

2011-03-16 12:45:00
Christopher Vecchio, CFA, Sr. Currency Strategist

More evidence emerged that the U.S. housing market remains a laggard in the recovery, as demand for new construction continues to struggle to find footing. Housing starts in February declined by 22.5 percent from January, coming in at 475,000, well below the estimated 566,000, according to a Bloomberg News survey. Housing starts advanced by 618,000 in January, growth of 18.5 percent from December. Similarly, building permits for February also declined more than expected, falling by 8.2 percent to 517,000. 570,000 permits were forecasted to have been approved following 563,000 in January. The housing data, coupled with producer prices data from February, initially sent the Greenback lower against the major currencies. However, the Dollar Index has since fallen, to as low as 76.36 following the news.

U.S. Housing Starts: April 2007 to Present

031611_US_Housing_Starts_to_Lowest_Level_Since_April_2009_EDITOR_body_Picture_1.png, U.S. Housing Market Data Disappoints; Housing Starts to Lowest Since April 2009

Courtesy: Bloomberg

New construction continues to be constrained as a high supply of foreclosed homes continues to weigh on prices and add to already ‘over-stocked’ inventories. The Federal Open Market Committee noted the continued struggles of the housing market, calling the situation “depressed”; the FOMC used this data as evidence to maintain plans to purchase U.S. Treasuries in order to boost growth. The housing market will likely to be depressed until there is a substantial rebound in the jobs market.

Written by Christopher Vecchio, DailyFX Research.

To contact the author of this report, please send inquiries to: research@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.