US: Housing Starts rise 2.2% in April, Building Permits decline 1.5%

• Building Permits in the US declined unexpectedly in April.
• US Dollar Index clings to strong daily gains near 103.00.

The monthly data published by the US Census Bureau revealed on Wednesday that Housing Starts rose by 2.2% on a monthly basis in April following March 4.5% decline. This reading came in better than the market expectation for an increase of 1.9%.

In the same period, Building Permits fell 1.5%, compared to analysts' estimate for a 3% growth.

Market reaction

The US Dollar Index preserves its bullish momentum after these data and was last seen rising 0.4% on the day at 103.00.