Hopes of imminent stability in the housing market suffer blow.

[RTFX-Trading]

Hopes of imminent stability in the housing market suffer blow.

Housing starts and building permits in April fell against all odds, denting hopes of stabilizing the U.S. housing market.

Housing starts fell 12.8% to 458'000, their lowest level recorded in 50 years, while the number of building permits fell by 3.3% to 494'000, their lowest level since the records started in 1960.

The dollar and yen are the winners following these bad results, while "carry trades" are under pressure.

Emman Xuereb
RTFX Ltd
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