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U.S. building permits fall 5.7% in March, housing starts rise 2%

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Investing.com -

Investing.com - The number of building permits issued in the U.S. fell sharply in March, while housing starts issues missed expectations, official data showed Thursday.

In a report, the U.S. Commerce Department said that the number of building permits issued in March declined by 5.7% last month to a seasonally adjusted 1.039 million units from February's total of 1.102 million. Analysts expected building permits to fall by 2.0% to 1.080 million units in March.

The report also showed that U.S. housing starts rose by 2.0% in March to hit a seasonally adjusted 926,000 units from February's total of 908,000 units, below expectations for an increase of 15.9% to 1.040 million.

EUR/USD was trading at 1.0759 from around 1.0727 ahead of the release of the data, GBP/USD was at 1.4934 from 1.4908 earlier, while USD/JPY was at 119.03 from 119.15 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 97.99, compared to 98.23 ahead of the report.

Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures pointed to a drop of 0.3%, the S&P 500 futures shed 0.35%, while the Nasdaq 100 futures slumped 0.4%.

Elsewhere, in the commodities market, gold futures traded at $1,207.80 a troy ounce, compared to $1,205.90 ahead of the data, while crude oil traded at $55.31 a barrel from $55.20 earlier.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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