Starts 1.239 Million vs 1.34 Million. The 30-Year at 5.33% Did Not Buy the Dollar.

US housing starts collapsed in July. Census printed 1.239 million at an annual rate, −12.4% from a revised June 1.415 million, against a 1.34 million ForexFactory consensus. The 30-year yield had just printed 5.33%, the highest since 2007, according to FXStreet. The dollar did not get the bid. DXY is around 99.56 on Wednesday.

Starts fell. Permits did not.

Single-family starts were 808 thousand, −9.9%. Five-or-more-unit starts were 421 thousand. Permits rose to 1.443 million, +5.0% from a revised June 1.374 million. Completions were 1.212 million. Pending home sales were −2.3% against +0.1% expected.

That is a rates-and-mortgage demand miss, not a permit cliff. Industrial production was 0.2% against 0.3%.

Yields stayed high. The dollar did not follow.

FXStreet had the 10-year at 4.74% on Tuesday and the 2-year easing toward 4.2%. Housing “gave the Fed hike deferral no argument.” The chain is a 5.33% 30-year to weaker starts, not to a firmer DXY.

Japan’s Cabinet Office printed core machinery orders +9.7% month-on-month against about 7.2% expected, after −12.4%. USD/JPY was still around 159.45 in Asia. That is supporting Japan, not this lead. FOMC minutes are still ahead at 23:30 IST.

Live prices are on prices. The minutes stamp is on the economic calendar.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.