U.S. Housing Starts Tumble 3.1% In Octoberfxcue.com

(fxcue news) - New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department on Tuesday. The report said housing starts dove by 3.1 percent to an annual rate of 1.311 million in October after slumping by 1.9 percent to a revised rate of 1.353 million in September. Economists had expected housing starts to decrease by 1.8 percent to an annual rate of 1.330 million from the 1.354 million originally reported for the previous month. "Housing starts were a touch weaker than expected in October as Hurricanes Helene and Milton dragged down starts in the South by more than we anticipated," said Nancy Vanden Houten, U.S. Lead Economist at Oxford Economics. She added, "We do expect starts in the South to rebound as rebuilding in the areas most impacted by the storms gets underway." The steep drop by housing starts came as single-family starts plummeted by 6.9 percent to an annual rate of 970,000. The nosedive by single-family starts more than offset a surge by multi-family starts, which spiked by 9.7 percent to an annual rate of 341,000. The Commerce Department said building permits also fell by 0.6 percent to an annual rate of 1.416 million in October after plunging by 3.1 percent to a revised rate of 1.425 million in September. Building permits, an indicator of future housing demand, were expected to inch up by 0.1 percent to a rate of 1.430 million from the 1.428 million originally reported for the previous month. While single-family permits rose by 0.5 percent to an annual rate of 968,000, multi-family permits tumbled by 3.0 percent to an annual rate of 448,000.

U.S. Housing Starts Tumble 3.1% In October

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U.S. Housing Starts Tumble More Than Expected In October

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U.S. Housing Starts Tumble 3.1% In October

CPI Uptick

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Trader

I took a two-day break and continued trading. Today, all gold purchases were profitable.

Make two gold trades and make a profit.

Gold operation strategy: sell under pressure 2600, stop loss 2597, target 2580;

Buy directly near gold 2590, target 2618-2627-2643; If you place a sell order near the three o'clock mark of 2618, 2627, and 2643 for the first time; If given around 2586 and 2578, you can buy in batches;

Sell 2/10 of the positions in batches near 2595-2598 in the morning session of the gold market, with a stop loss of 6 points. Target around 2580-2570, break below the 2560 line;

Gold operation strategy: Sell gold at 2600-2606, stop loss at 2612, target at the 2560-2563 line, break through at 2548-53;

Gold trading strategy: Buy at 2580 in the Asian and European markets, stop loss at 2573, target at 2590-2593; Under pressure in the European and American markets, sell at 2600 with a stop loss of 2597 and a target of 2580;

Crude oil finally fell sharply last Friday, falling below the key support level of 67.6. Today, it rebounded and sold at this level. In terms of operations, crude oil rebounded and sold around 67.6.

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U.S. Housing Starts Tumble 3.1% In October

Sensex

U.S. Housing Starts Tumble More Than Expected In October

Eurozone Inflation Rises To 2% As Estimated

European Stocks Close Weak On Geopolitical Concerns

U.S. Homebuilder Confidence Improves Much More Than Expected In November

Canadian Dollar Climbs As Inflation Accelerates

U.S. Housing Starts Tumble 3.1% In October

CPI Uptick

Please sign in

Trader

I took a two-day break and continued trading. Today, all gold purchases were profitable.

Make two gold trades and make a profit.

Gold operation strategy: sell under pressure 2600, stop loss 2597, target 2580;

Buy directly near gold 2590, target 2618-2627-2643; If you place a sell order near the three o'clock mark of 2618, 2627, and 2643 for the first time; If given around 2586 and 2578, you can buy in batches;

Sell 2/10 of the positions in batches near 2595-2598 in the morning session of the gold market, with a stop loss of 6 points. Target around 2580-2570, break below the 2560 line;

Gold operation strategy: Sell gold at 2600-2606, stop loss at 2612, target at the 2560-2563 line, break through at 2548-53;

Gold trading strategy: Buy at 2580 in the Asian and European markets, stop loss at 2573, target at 2590-2593; Under pressure in the European and American markets, sell at 2600 with a stop loss of 2597 and a target of 2580;

Crude oil finally fell sharply last Friday, falling below the key support level of 67.6. Today, it rebounded and sold at this level. In terms of operations, crude oil rebounded and sold around 67.6.

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