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
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
Mixed
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Gold: 0.30% Oil - US Crude: 0.29% Silver: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/y1BGP7lpSl
  • Black Friday is still a subject for #stock market scrutiny. Which retailers look set to benefit? What can we learn from the price action of past years? Find out: https://t.co/BBKZzw4tGa https://t.co/L4dt016OrZ
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.09% 🇨🇭CHF: -0.15% 🇪🇺EUR: -0.15% 🇳🇿NZD: -0.20% 🇦🇺AUD: -0.25% 🇨🇦CAD: -0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tMMxHanUKU
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: -0.38% Wall Street: -0.42% France 40: -0.63% Germany 30: -0.88% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/RUZf4o7vRW
  • GBP/USD Develops a Bullish Rectangle – British Pound vs USD Price Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2019/11/20/GBPUSD-Develops-a-Bullish-Rectangle-British-Pound-vs-USD-Price-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/EaZHvdAn6y
  • RT @iv_technicals: Gentle reminder: Nov $VIX futures roll off today; Dec goes in front, currently trading 15.50
  • LIVE NOW! Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/q4RfSm5E8I
  • LIVE IN 30 MIN: Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
  • ECB's De Guindos says monetary policy side effects are becoming more evident $EUR
US Dollar Takes Gains as Housing Rebounds From a Winter Slowdown

US Dollar Takes Gains as Housing Rebounds From a Winter Slowdown

2014-05-16 13:26:00
Baruch Spier,
Share:

Talking Points:

  • US Housing Starts reached a 5-month high following a winter slowdown
  • Building permits issued in April the highest in 5-years
  • USD/JPY rises 20 pips after yesterday’s decline

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

US April Housing Data

Actual

Expected

Prior

Revised Prior

Housing Starts

1072K

980K

946K

947K

Housing Starts MoM

13.2%

3.6%

2.8%

2.0%

Building Permits

1080K

1010K

990K

1000K

Building Permits MoM

8.0%

1.3%

-2.4%

-1.1%

The number of building permits issued in the United States in April rose to a 5-year high, and housing starts reached a 5-month high, according to the Commerce Department. The pickup in housing activity following a slow winter sent the US Dollar higher in Forex markets.

The Federal Reserve announced in April that it will continue with measured asset purchase reductions but keep the target rate unchanged for some time. However, Fed Chair Yellen has previously said that future policy will depend on upcoming data releases. Therefore, improved housing data may indicate improving economic conditions and encourage a tightening of monetary policy, which would be bullish for the US Dollar.

USD/JPY 1-Minute: May 16, 2014

US Dollar Takes Gains as Housing Rebounds From a Winter Slowdown

The US Dollar rose more than 20 pips against the Japanese Yen following the housing data to a new daily high at 101.67. Currency Strategist Ilya Spivak warns that USD/JPY may be vulnerable to deeper losses following the break of a rising channel from February.

USD/JPYDaily by Ilya Spivak

US Dollar Takes Gains as Housing Rebounds From a Winter Slowdown

Charts created by Baruch Spier and Ilya Spivak using Marketscope 2.0. Add DailyFX Support/Resistance to your charts at FXCM Apps.

-- Written by Baruch 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.