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Expert's opinion from FXFinPro

FXFINPRO CAPITAL

Data on the US housing market disappointed investors

Today was published statistics on the housing market in the United States, which has traditionally had a strong impact on the US dollar and the dynamics of the stock markets. Thus, the number of housing starts in January totaled 1.10 million vs. expected 1.16 million, while the number of issued building permits amounted to 1.20 million, in line with result that was recorded in December. It should be noted that the weakening momentum in the housing market is due to poor weather conditions in some regions of the country that will generate pent-up demand in the coming months. We expect further strengthening of the US dollar against the euro amid growing confidence in accelerating the growth of the US economy in the coming months.

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