Data from the
The report said housing starts jumped 15.7% to an annual rate of 1.093 million in July after falling 4% to a revised 945,000 in June. Economists had been expecting housing starts to climb to a rate of 963,000 from the 893,000 originally reported for the previous month.
Easing tensions in
Ukrainian president Petro Poroshenko and Russian president
On the economic front,
Exports were up 3.9% on year - slightly ahead of estimates for an increase of 3.8% following the 1.9% decline in the previous month. Imports were up an annual 2.3% versus forecasts for a decline of 1.7% following the 8.4% spike a month earlier.
The yen fell to a 4-1/2-month low of 103.22 against the US dollar, from an early high of 102.88. If the yen extends its downtrend, it is likely to find support around the 103.37 area.
Pulling away from early highs of 137.00 against the euro and 113.13 against the Swiss franc, the yen slipped to a 5-day low of 137.32 and a 2-day low of 113.36, respectively. On the downside, 138.00 against the euro and 113.70 against the franc are seen as next support level for the yen.
Against the pound, the yen fell to 171.39 against the pound from an early high of 170.94. The yen may test support near the 172.95 zone.
In the European session, German producer price index for July is due.
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