US dollar falling to lowest levels since Trump took office
Wednesday, May 17 2017 @ 03:26 PM AST
Contributed by: michaelariston
The following is from STIFEL Economics:
Currency Volatility, Dollar Down; Housing Starts Fall
The U.S. dollar is trending lower for a fifth day, with the dollar index flirting with its lowest levels since the election of President Trump. The broad weighted dollar index is down 0.47%, currently trading at $98.45 as of 8:39am ET.
European currencies were increasingly volatile in overnight trading amid positive Eurozone GDP growth, strong German economic data and solid U.K. inflation figures.
This morning, housing starts fell 2.6% in April following a 6.6% decrease the month prior, pulling the annual pace down from 1,203k to 1,172k, a five-month low. Single family starts rose 0.4%, and multi-family starts decreased 9.2% in April.
SOURCE: STIFEL Economics