US: Housing starts rise by 0.3% in March, Building Permits rise by 0.4%

Housing Starts rose by 0.3% in March, taking the rolling 12-month number of starts to 1.793M, above expectations for a drop to 1.745M from 1.788M in February, data released by the US Census Bureau on Tuesday showed. Meanwhile, Building Permits rose by 0.4%, taking the rolling 12-month number of permits to 1.873M, above expectations for a drop to 1.825M from 1.865M in February. 

Market Reaction 

FX markets did not react to the latest US housing figures, which are yet to show a substantial slowdown as a result of the recent steep rise in US mortgage rates amid guidance from the Fed towards tighter policy. The DXY for now continues to trade in the upper 100s, supported amid higher US yields and recent hawkish Fed speak.