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U.S. Housing Starts Dropped Again in September
In September, U.S. housing starts experienced a significant decline of 5.2%, falling to 1.221 million, which starkly contrasts with economists' expectations of 1.3 million and a predicted 2% increase. This bearish report implications for the housing market could dampen GDP growth prospects and raise concerns over consumer sentiment. As inflation pressures remain a concern for the Fed, today's data lowers the probability of maintaining interest rates, amplifying risks for the USD and positioning it close to pivotal support levels.