United States Building Permits data drops today

United States Building Permits data drops today

Building Permits The Census Bureau will release the latest data on July 17, 2024, at 12:30 GMT, for the United States, and is expected to show a forecast of 1.443 million, up from the previous month's 1.386 million. 

Analysts believe that an increase in building permits could turn into a positive development trend for the real estate outlook in the medium term. It is one of the powerful indicators that both investors and economists closely watch, as construction permits increase could result in increased activity within the housing sector. How this influences dollar quotes is hard to say with certainty—market reactions can differ based on a raft of factors, such as context and investor mood.

It is in these figures that the Fed and financial markets will look for impetus about growth prospects while scanning for any sign of incipient inflationary pressures. A pickup in building permits could, in theory, boost the general willingness to take risks on the economy, though quite how that might feed through to currency markets and the wider financial stability landscape will depend on a range of factors. With so many variable factors involved, it is very premature to make definitive predictions about future outcomes in economic forecasts.

Federal Reserve System Industrial Production y/y Data Due for Release

Industrial production year-on-year data is due for release by the Federal Reserve System today at 13:15 GMT. Preliminary estimates put growth at 0.9% versus a previous increase of 0.4%. 

The industrial production y/y index measures percent value change in output levels in the reference month, relative to the same month in the previous year. While an unexpectedly strong reading on industrial production provides an impetus for an investor to be more confident in the USD, typically a signal that business activity is solid, it can, however, be driven by a host of factors at play, whether in economic forecasts, global demand, policy changes at home, and events that no one sees coming, all blowing on the final result in a different direction than expected.