US housing starts fall more than forecast, building permits rise

US housing starts fall more than forecast, building permits rise

U.S. housing starts retreated more than forecast in March, while building permits edged up, the Commerce Department data showed Tuesday.

Housing starts slipped to 1.22 million units from a revised of 1.30 million, coming below estimates of 1.25 million.

Building permits came in at 1.26 million, above a revised of 1.22 million, while analysts had predicted a rise to 1.25 million.

As of 12:47 GMT, the U.S. dollar continued to trade lower versus a basket of major currencies at 99.85, according to the dollar index.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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