US: Housing Starts decline by 4.5% in January, Building Permits rise by 0.1%

• Housing Starts in the US declined sharply in January.
• US Dollar Index holds in positive territory slightly below 104.00.

The monthly data published by the US Census Bureau revealed on Thursday showed that Housing Starts declined by 4.5% on a monthly basis in January following December's 2.4% drop.

In the same period, Building Permits rose by 0.1% but fell short of the market expectation for an increase of 0.8%.

Market reaction

The US Dollar Index edged higher in the early American session following the latest data releases and was last seen rising 0.08% on the day at 103.90.