US housing starts fell to 520,000 in April this morning, down -10.6%. Housing starts measure annualized number of new residential buildings that began construction during the previous month. This number is released on a monthly basis.
US building permits fell to 550,000 in April this morning, down -4%. Building permits is an annualized number of new residential building permits issued during the previous month.
US Industrial Production (Apr) m/m 0.0% vs. expectations of .5% (previous .8%, revised to .7%).
US Capacity Utilization Rate (Apr) m/m 76.9% vs. expectations of 77.6% (previous 77.4%, revised to 77%)
Risk aversion dominating morning markets, US equities down, commodities down, and the US dollar is up. Negative economic fundamentals from this morning pushing EURUSD, commodity currencies (USDCAD, AUDUSD, NZDUSD) lower, and S&P lower. Both Wall Mart and Hewlett-Packard beat estimates but shares hit lower on outlook.