No Glory End for the US Economy - Forex News by FX Leaders

No Glory End for the US Economy

Posted Friday, December 16, 2016 by
Skerdian Meta • 1 min read

The US Dollar has had a pretty good week so far. The FED rate hike gave the USD another push after being in an uptrend for a month.  The US economic data has been quite positive as well, but today´s US housing sector numbers ruined the good run.

The slight decline in the US building permits was balanced out by the higher revision in October, but the miss in US housing starts was quite considerable. A 140k miss is very notable and the decline from the previous month is even bigger.

Hopefully, this bump on the road won´t turn into a reversal 

That said, the jump in housing starts in October was huge, so perhaps the US house buyers took a moment to breathe in November. There doesn't seem to be any reaction in USD pairs, apart from EUR/USD which made a 30 pip jump.

The US housing starts chart shows the quick reverse in November, but that´s just a bump if you look at the broader picture. Although not as strong and with a long way to go until we reach pre-crisis levels, the trend looks unbreakable. 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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