Building Permit data for April is to be Revealed Today

Building Permit data for April is to be Revealed Today

The market will be eagerly waiting for the release of Building Permits which represents the number of permits for the construction of new facilities issued by the government or other regulatory authority for April month. It will be disclosed by the Census Bureau on Thursday at 12:30 GMT. Top economists are estimating Building Permits to be 1.489 million. If there is a rise in the values of the indicator, it will have a positive effect on the values of dollar quotes. 

When the Building Permits were unveiled on 16th Apr 2024 at 12:30 GMT, 1.458 million permits in place of the estimated figure of 1.494 million, for the construction of new facilities were issued by any regulatory authority or government for March compared to February. This is a 4.3% decline from February and a 1.5% increase over the previous year. It had dropped 2.3% in January.

In March, single-family authorizations reached 973,000, a 5.7% decrease from the revised February figure of 1,032,000. In March, there were 433,000 authorizations for units in buildings with five or more.

Initial Jobless Claims will be Published

The US Department of Labor will be unveiling the Initial Jobless Claims on Thursday at 12:30 GMT and is expected to be 221000. Meanwhile, when the indicator was released on 9th May 2024 at 12:30 GMT, 231000 individuals filed to receive unemployment insurance benefits for the time over the past week instead of the forecasted figure of 206000. If there is an estimated decline in the readings of the indicator, it will have a positive effect on the value of the US dollar quotes. Therefore, the market participants who are trading in the American currency are suggested to be vigilant during the announcement of the indicator. With the release of Initial Jobless Claims, the present condition of the labour market could be assessed.  

Japanese GDP was Disclosed Today

The Japanese GDP had dropped 0.5% when it was released by the Japanese Cabinet Office on Wednesday at 23:50 GMT. Market participants who are trading in the Japanese Yen currency pair are advised to make a note of the changes in the readings of the indicator before making any drastic market decisions. It will next be disclosed on 9th Jun 2024 at 23:50 GMT.