The Greenback weakened against the European Single Currency, following the United States Building Permits release on Thursday at 12:30 GMT. The EUR/USD currency pair 1 minute candle gained only 4 pips, or 0.03% at the release time, but combined with the buying action occurring before the data was released, there was a surge of 17 pips or 0.15% in total.
The Census Bureau released US Building Permits data that came in line with expectation of 1.30 Million. There was no change between actual and forecasted data this time.
Scott Volling, principal at PricewaterhouseCoopers said: "June appeared to be an anomaly, but July results indicate a trend. With permits still fairly solid, we will need to see if the trend continues into the late summer/early fall or if recent permits translate to stronger starts in the coming months ".
| Historical Data Table: Building Permits | Economic Calendar for 17.08.2018 | ||||||||
| Date | 17.04.2018 | 16.05.2018 | 19.06.2018 | 18.07.2018 | 16.08.2018 | 12:30 PM | CA CPI m/m |
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| Actual | 1.35M | 1.35M | 1.3M | 1.27M | 1.30M | 2:30 PM | US Prelim UoM Consumer Sentiment | ||
| Forecast | 1.33M | 1.35M | 1.35M | 1.33M | 1.30M | 2:30 PM | US Prelim UoM Inflation Expectations | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.72653 | 0.72661 | 0.01% | AUD/USD | 53.08% | 46.92% | |||
| EUR/USD | 1.13698 | 1.13727 | 0.03% | EUR/USD | 68.03% | 31.97% | |||
| USD/JPY | 110.818 | 110.794 | -0.02% | USD/JPY | 46.60% | 53.40% | |||
| NZD/USD | 0.65831 | 0.65846 | 0.02% | NZD/USD | 59.56% | 40.44% | |||