US: Housing Starts decline 4.2%, Building Permits fall 2.4% in October

• Housing Starts and Building Permits in the US declined in October.
• US Dollar Index clings to strong daily gains slightly below 107.00.

The monthly data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 4.2% on a monthly basis in October following September's 1.3% contraction.

In the same period, Building Permits fell by 2.4%, compared to a 1.4% increase recorded in September.

Market reaction

With the initial reaction, the US Dollar Index, which tracks the US Dollar's (USD) performance against a basket of six major currencies, retreated from the daily high it set at 107.13. As of writing, the index was up 0.6% on the day at 106.90.