EUR / USD is still looking for direction, the number of new building permits in the U.S. highs
The number of new building permits in the U.S. grew at 4 and a half year highs. Housing Market becomes the driving force of the world's largest economy. Annual measurements from January 2012 to January of this year recorded 925,000 new authorizations, is thus the fastest increase since June 2008. The data reinforced expectations that the U.S. housing market will also continue to support economic growth in the U.S..
The Ministry of Commerce also announced that the number of new construction home in mom fell by 8.5 percent to 890,000 units (from January 2012 to January 2013). The decrease is mainly due to lack of interest in residential buildings, which were measured decrease of 24.1 percent.However, the construction of houses, which accounts for nearly two thirds of the total volume increased by 0.8 percent.
Last year, residential construction in the United States for the first time since 2005, contributed positively to the gross domestic product is expected that this year will provide even more support to the economy, which could help to offset the burden of expected government spending cuts.
Producer price index (PPI) rose in January for the first time in the last four months. The decline in fuel prices offset the rise in food prices. Labor Department reports that PPI rose by 0.2 percent month on month. Compared with the wholesale price enjoy an 1.4 percent growth.
EUR / USD failed to overcome the resistance of 1342 and responded to the hidden bearish divergence of the 4-hour chart.In the last hours, thus continuing intra-day sale, which could be stopped due to the newly created hidden bullish divergence on the hourly chart. The nearest resistance is a decreasing trend line and price just 1342.
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