020 7898 0500Figures released yesterday showed that building permits in the US fell 0.6% in October from the previous month. This wasn’t as bad as it might have been, as the markets were
expecting an even bigger decline of 0.8%. Meanwhile, housing starts for the same month increased by 1.5% from a month earlier, following an upwardly revised 5.5% drop in
September. The markets had expected a 1.6% increase.
We thought it would be interesting to draw your attention to an article which helps to show some of the effects Trump’s trade tariffs are having on Americans. The president’s
‘America First’ commerce insurance policies have led to a 94% decline in US soybean exports to China. The figures will certainly be concerning to US farmers and do pour
ridicule on Trump’s claim that trade wars and good and easy to win.
Today is pretty busy for US economic data, with durable goods orders and existing home sales for October on the schedule. We will also see initial jobless claims up to 17
November 2018, as well as the University of Michigan’s consumer sentiment reading for November.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on
020 7898 0541.
