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  • U.S. Housing Starts Unexpectedly Dip 0.3% In March

    A report released by the Commerce Department on Friday unexpectedly showed a modest decrease in new residential construction in the U.S. in the month of March.

    The Commerce Department said housing starts dipped by 0.3 percent to an annual rate of 1.139 million in March from the revised February estimate of 1.142 million.

    The drop came as a surprise to economists, who had expected housing starts to surge up by 5.9 percent to a rate of 1.230 million from the 1.162 million originally reported for the previous month.

    Single-family housing starts fell by 0.4 percent to a rate of 785,000, while multi-family starts were unchanged at a rate of 354,000.

    The report said building permits also tumbled by 1.7 percent to an annual rate of 1.269 million in March from the revised February rate of 1.291 million.

    Building permits, an indicator of future housing demand, had been expected to rise by 0.3 percent to a rate of 1.300 million from the 1.296 million originally reported for the previous month.

    While single-family building permits slumped by 1.1 percent to a rate of 808,000, multi-family permits plunged by 2.7 percent to a rate of 461,000.

    Compared to the same month a year ago, housing starts were down by 14.2 percent and building permits were down by 7.8 percent.

    On Tuesday, the National Association of Home Builders released a separate report showing a modest improvement in U.S. homebuilder confidence in the month of April.

    The report said the NAHB/Wells Fargo Housing Market Index inched up to 63 in April after holding at 62 in March, with the uptick matching expectations.

    "Builders report solid demand for new single-family homes but they are also grappling with affordability concerns stemming from a chronic shortage of construction workers and buildable lots," said NAHB Chairman Greg Ugalde.


    The material has been provided by InstaForex Company - www.instaforex.com
  • *U.S. Housing Starts Drop 0.3% In March, Building Permits Tumble 1.7%

    U.S. Housing Starts Drop 0.3% In March, Building Permits Tumble 1.7%


    The material has been provided by InstaForex Company - www.instaforex.com
  • Japan Overall Inflation +0.5% On Year In March

    Overall nationwide consumer prices in Japan were up 0.5 percent on year in March, the ministry of Internal Affairs and Communications said on Friday.

    That was in line with expectations and up from 0.2 percent in February.

    Core consumer prices were up 0.8 percent on year - exceeding expectations for 0.7 percent, which would have been unchanged from the previous month.

    Individually, prices for fuel, furniture, medical care and recreation were up, while communication costs were down.

    On a seasonally adjusted monthly basis, overall inflation and core CPI both were unchanged.


    The material has been provided by InstaForex Company - www.instaforex.com
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Forex Analysis
  • April 19, 2019 : GBP/USD Intraday technical analysis and trade recommendations.

    analytics5cb9db7d92a87.jpg

    On January 2nd, the market initiated the depicted uptrend line around 1.2380.

    A weekly bearish gap pushed the pair below the uptrend line (almost reaching 1.2960) before the bullish breakout above short-term bearish channel was achieved on March 11.

    Shortly after, the GBPUSD pair demonstrated weak bullish momentum towards 1.3200 then 1.3360 where the GBPUSD failed to achieve a higher high above the previous top achieved on February 27.

    Instead, the depicted recent bearish channel was established.

    Significant bearish pressure was demonstrated towards 1.3150 - 1.3120 where the depicted uptrend line failed to provide any bullish support leading to obvious bearish breakdown.

    On March 29, the price levels of 1.2980 (the lower limit of the depicted movement channel) demonstrated significant bullish rejection.

    This brought the GBPUSD pair again towards the price zone of (1.3160-1.3180) where the upper limit of the depicted bearish channel as well as the backside of the depicted uptrend line came to meet the pair.

    Bearish rejection was anticipated around the mentioned price levels (1.3150-1.3180). However, the GBPUSD bullish pullback failed to pursue towards the mentioned zone.

    Instead, significant bearish rejection was demonstrated earlier around the price level of 1.3120.

    Hence, Short-term outlook has turned into bearish towards 1.2920-1.2900 where the lower limit of the depicted channel is located.

    Trade Recommendations:

    Any bullish pullback towards 1.3120-1.3140 should be considered for another SELL entry. TP levels to be located around 1.3100, 1.3020 then 1.2950 - 1.2920. S/L to be located above 1.3170.

    The material has been provided by InstaForex Company - www.instaforex.com
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