Housing figures beat expectations with 1.174 million in housing starts from an upwards revised 1.069 in May and 1.343 million in building permits. Inflation figures came out exactly as expected.
The US dollar is a bit higher after the release. Update: the gains are intensifying.
The US released inflation and housing figures for June. In general, things were expected to improve from May.
The US dollar was a bit off the highs towards the publication.
EUR/USD traded just under 1.09, GBP/USD at 1.5590, USD/JPY around 124, USD/CAD at 1.2975. AUD/USD flirted with 0.74 and NZD/USD was battling 0.6550.
All the data:
- Housing starts were expected to rise from 1.036 million to 1.111 million. Actual: 1.174.
- Building permits were predicted to slide from 1.25 to 1.115 million. Actual 1.343 million.
- CPI m/m expected +0.4% after 0.3%. Exactly as expected
- Core CPI m/m exp. +0.2% after +0.1%. Exactly as expected
- Core CPI y/y exp. +1.8% after +1.7%. Exactly as expected
- CPI y/ exp. -0.1% after +0.4%. Exactly as expected
At the same time, Canada also released inflation data. CPI was expected to rise 0.2% m/m and 1% y/y while core inflation was predicted to remain unchanged at 2.2% y/y. The only surprise in Canada came from core CPI, which rose to a level of 2.3% y/y. This results in a move of USD/CAD above 1.30.
This is not the end of data. We still have the preliminary consumer confidence figure from the University of Michigan.
See how to trade the consumer confidence with EUR/USD.
