• Housing Starts in the US declined sharply in January.
  • Building Permits continued to rise at a strong pace.

Housing Starts in the US declined by 6% on a monthly basis in January after rising by 8.2% in December, the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Thursday. This print missed the market expectation for an increase of 0.6% by a wide margin.

Further details of the publication revealed that Building Permits, which increased by 4.2% in December, surged by 10.4% in the same period.

Market reaction

The mixed data failed to have a significant impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was down 0.38% on the day at 90.60.

Source