Monthly data on the US Building Permits contributed to the second straight day of gains in the USD/JPY currency pair. Experts anticipated the number of building approvals to rebound to 1.20M in June, expecting an increase in future construction despite higher costs for materials. The report showed that housing sector strengthened as building permits and housing starts advanced more than expected to 1.25M and 1.22M, respectively. It can be noticed on the chart that the USD/JPY exchange rate moved 0.5% higher when the data was released. Strong figures suggested that builders continued to be confident in the US housing industry's ability to keep expanding, while demand for new lots outpaced market supply. The USD/JPY ended Wednesday's session at 111.96.
| Historical Data Table | |||||
| Date | 16.03.2017 | 18.04.2017 | 16.05.2017 | 16.06.2017 | 19.07.2017 |
| Actual | 1.21M | 1.26M | 1.23M | 1.17M | 1.25M |
| Forecast | 1.26M | 1.25M | 1.27M | 1.25M | 1.20M |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| AUD/USD | 0.79367 | 0.7935 | -0.02% | ||
| USD/CHF | 0.95313 | 0.95342 | 0.03% | ||
| USD/JPY | 111.898 | 111.944 | 0.04% | ||
| NZD/USD | 0.7371 | 0.73705 | -0.01% | ||