US: Housing Starts decline 1.4%, Building Permits drop 1.6% in December

• Housing Starts and Building Permits in the US declined in December.
• The US Dollar Index stays on the defensive around the 102.00 mark.

The monthly data published by the US Census Bureau revealed on Thursday showed that Housing Starts declined by 1.4% on a monthly basis in December following November’s 1.8% drop.

In the same period, Building Permits fell by 1.6% as compared to the 10.6% fall recorded in November.

Market reaction

The data does little to impress the US Dollar bulls amid growing acceptance that the Fed will soften its hawkish stance and rising bets for a smaller 25 bps rate hike in February.