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16 May

By Ahmed Mamdouh

Category: Forex News

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US housing starts, building permits retreat in April

U.S. housing starts and building permits showed a retreat in April, the Commerce Department data showed Wednesday.

Housing starts edged down to 1.29 million units from a revised of 1.34 million, coming below estimates of 1.32 million.

Building permits came in at 1.35 million, moving in line with forecasts, compared to a revised of 1.38 million.

As of 12:36 GMT, the U.S. dollar traded higher versus a basket of major currencies at 93.38, according to the dollar index.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 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.