• Building Permits were stronger than expected, while Housing Starts were weaker. 
• FX markets did not react and are instead focused on geopolitics and upcoming central bank speak.  

Building Permits rose by 0.7% MoM in December to 1.899M over the last 12-months, whilst Housing Starts fell 4.1% MoM to 1.628M over the last 12-months, according to the latest data published jointly by the US Census Bureau and the US Department of Housing and Urban Development on Thursday. Median economist forecasts had been expecting the December data to show that there had been 1.760M Building Permits in the past 12-months and 1.7.0M Housing Starts, so the latest numbers were mixed, with Building Permits stronger than expected and Housing Starts weaker. 

Market Reaction

FX markets seem far more focused on geopolitics right now and, thus, there has not been a notable reaction to the latest data.