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U.S. building permits jump 10.1% in April, housing starts soar 20.2%

Published 19/05/2015, 13:32
© Reuters. U.S. building permits, housing starts soar in April
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Investing.com - The number of building permits issued in the U.S. rose sharply in April, while housing starts issues also soared past expectations, official data showed Tuesday.

In a report, the U.S. Commerce Department said that the number of building permits issued last month increased by 10.1% last month to a seasonally adjusted 1.143 million units from March’s total of 1.038 million.

Analysts expected building permits to rise by 2.2% to 1.060 million units in March.

The report also showed that U.S. housing starts soared by 20.2% in April to hit a seasonally adjusted 1.135 million units from March’s total of 944,000 units, easily surpassing expectations for an increase of 9.9% to 1.019 million.

EUR/USD was trading at 1.1151 from around 1.1189 ahead of the release of the data, GBP/USD was at 1.5469 from 1.5509 earlier, while USD/JPY was at 120.35 from 120.17 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.30, compared to 95.06 ahead of the report.

Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures pointed to a gain of 0.3%, the S&P 500 futures tacked on 0.25%, while the Nasdaq 100 futures advanced 0.4%.

Elsewhere, in the commodities market, gold futures traded at $1,216.30 a troy ounce, compared to $1,220.70 ahead of the data, while crude oil traded at $59.34 a barrel from $59.42 earlier.

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