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    US housing market: long awaited record

    A long awaited event took place yesterday. After almost one and a half years of stagnation housing starts in the United States have finally refreshed their post-crisis highs. The housing starts index registered 1.135 million houses a year in April. The previous record high, set in November 2013, was 1.104 million. Since then this level could not be exceeded.

    This news is notable not only because of the fact of a new record itself. The percent growth demonstrated by the indicator in April is also quite impressive: 20.2% on a monthly basis. March data have been revised up from 2.0% to 4.9% m/m. And it is very important that in April, the indicator chart managed to retrace above the positive trend line of 2011-2015, below which it dropped in February and March (see. Chart).

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    At the end of the last year, Wall Street Journal economists have suggested that in 2015th the US housing starts would reach the level of 1.22 million. Yesterday’s data give us confidence, that this forecast has all chances to come true.

    The markets have missed strong reports from the US, so this encouraging data on new construction has become a real gift for the dollar “bulls”. And hopes that construction sector will support the US economic growth this year, are now back in the market.

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

    A long awaited event took place yesterday. After almost one and a half years of stagnation housing starts in the United States have finally refreshed their post-crisis highs. The housing starts index registered 1.135 million houses a year in April. The previous record high, set in November 2013, was 1.104 million. Since then this level could not be exceeded.

    This news is notable not only because of the fact of a new record itself. The percent growth demonstrated by the indicator in April is also quite impressive: 20.2% on a monthly basis. March data have been revised up from 2.0% to 4.9% m/m. And it is very important that in April, the indicator chart managed to retrace above the positive trend line of 2011-2015, below which it dropped in February and March (see. Chart).

    111

    At the end of the last year, Wall Street Journal economists have suggested that in 2015th the US housing starts would reach the level of 1.22 million. Yesterday’s data give us confidence, that this forecast has all chances to come true.

    The markets have missed strong reports from the US, so this encouraging data on new construction has become a real gift for the dollar “bulls”. And hopes that construction sector will support the US economic growth this year, are now back in the market.

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!


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