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
EUR/USD
Bearish
Low
High
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
Mixed
Wall Street
Bearish
Gold
Bullish
Low
High
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
GBP/USD
Bearish
Low
High
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
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar appears to be back on the offensive against ASEAN FX such as the Singapore Dollar and Malaysian Ringgit. The Philippine Peso gained. What does USD face from here? Find out from @ddubrovskyFX here: https://t.co/U8VGdJPIST https://t.co/67Qq4n8Tet
  • LIVE NOW: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395
  • Heads Up! Will be starting soon. I will be resuming last week's discussion on equities to see what positioning can say about the prevailing trends, signup below https://t.co/5WGeehCLdh
  • 🇯🇵 JPY Trade Balance - BOP Basis (Yen) (FEB), Actual: ¥1366.6b Expected: ¥1215.0b Previous: -¥985.1b https://www.dailyfx.com/economic-calendar#2020-04-07
  • 🇯🇵 JPY Machine Orders (YoY) (FEB), Actual: -2.4% Expected: -3.0% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-04-07
  • 🇯🇵 JPY Machine Orders (YoY) (FEB), Actual: 5% Expected: -3.0% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-04-07
  • Australia outlook cut from stable to negative by S&P - BBG #AUD
  • #RBNZ Assistant Governor Christian Hawkesby: - The central bank is "very open" to changing the size of its QE program - There is a limit to how much of the bond market the RBNZ can purchase - Monetary authorities open to increasing QE in a "rapidly evolving situation" - BBG #NZD
  • Heads Up:🇯🇵 JPY Machine Orders (YoY) (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: -3.0% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-04-07
  • Heads Up:🇯🇵 JPY Trade Balance - BOP Basis (Yen) (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: ¥1213.6b Previous: -¥985.1b https://www.dailyfx.com/economic-calendar#2020-04-07
US Dollar Down as Housing Starts Fall Back from a 5-Year High

US Dollar Down as Housing Starts Fall Back from a 5-Year High

2014-01-17 14:20:00
Benjamin Spier, Technical Strategist
Share:

Talking Points:

  • Housing starts fall back from a 5-year high
  • The decline in building permits was the worst in 6 months
  • USD/JPY falls about 10 pips

Want to trade with proprietary strategies developed by FXCM? Find out how here.

The US Dollar fell about 10 pips against the Japanese Yen, as US housing starts and building permits fell back in December from 5-year highs set in November.

999 thousand excavations for residential structures were started in December, slightly better than expectations for 985 thousand housing starts and down room the 5-year high and revised 1107 thousand starts in November. New buildings permits issued in December fell 3.0% from the 5-year high and revised 1017 thousand permits issued in November, making the December decline the worst in 6-months according to the National Association of Home Builders.

Home builder broke ground on 923,400 homes in 2013, the most since 2007 and up 18.3% from the previous year. The US economy expanded by 4.1% (annualized) in Q3 of 2013, which was the fastest expansion in 7 quarters. Economic performance is important for US Dollar traders because Fed Chief Bernanke said in December that the FOMC will base its decision on when to completely end QE3 on the outcome of economic progress and the outlook for the job market.

That’s why the greenback fell slightly following the disappointing building permits release for December. At the time of this writing, USD/JPY has yet to break through a daily low at 104.19. The December 13th high at 103.92 may again provide support for the pair.

New to Forex? Watch this video

USD/JPY 1-Minute: January 17, 2014

US_Dollar_Down_as_Housing_Starts_Fall_Back_from_a_5-Year_High_body_Picture_1.png, US Dollar Down as Housing Starts Fall Back from a 5-Year High

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES

News & Analysis at your fingertips.