US Housing Starts surge 14.8% in November, Building Permits decline 2.5%

• Housing Starts in the US increased at a much stronger pace than expected in November.
• US Dollar Index stays in negative territory below 102.50 after the data.

Housing Starts in the US surged 14.8% in November to 1.56 million units, the monthly data published by the US Census Bureau revealed on Tuesday. This reading followed the 0.2% increase (revised from 1.9%) recorded in October. 

In the same period, Building Permits declined 2.5% after rising 1.8% (revised from 1.1%) in October.

Market reaction

The US Dollar Index showed no immediate reaction to these figures and was last seen losing 0.18% on a daily basis at 102.32.