The dollar index (DXY00) today is down by -0.27%. The dollar is under pressure today from lower T-note yields. Also, the strength in stocks today has reduced liquidity demand for the dollar. Today’s US housing news was mixed for T-notes as Sep housing starts were stronger than expected, but Sep building permits were weaker than expected.
US Sep housing starts fell -0.5% m/m to 1.354 million, stronger than expectations of 1.350 million. Sep building permits, a proxy for future construction, fell -2.9% m/m to 1.428 million, weaker than expectations of 1.460 million.
