The Dollar gained versus most majors as stock declined after worse economic data making investors worry and look for the safety of the Dollar. Housing Starts came out 0.59M weaker than 0.62M expected and the PPI surprisingly dropped by -0.6% versus 0.1% expected and 1.7% prior. Building Permits came out surprising lower with 0.57M versus 0.59M expected and 0.58M prior worrying investors about the economy. NASDAQ and Dow Jones declined by 0.59% and 0.50% accordingly, as stocks declined after disappointing Housing Starts reports. Crude dropped by -1.52% closing at 78.74$ a barrel and Gold (XAU) declined by 0.78% closing at 1056.25$ an ounce on stronger Dollar. Today, the FOMC will release the Beige Book and FOMC members Lacker and Tarullo will speak. Crude Oil Inventories are expected to show an increase of 0.9M from 0.4M last month. Crude Inventories announcements usually create great volatility in Crude prices.
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