Today, The Census Bureau Could Unveil Critical Trends in Construction

Today, the Census Bureau could unveil critical trends in construction

The U.S. Census Bureau is going to release the data on building permits today at 12:30 GMT, and its forecast claims that this number is going to be 1.404 million compared to 1.475 million for September. Such a decrease might be an appearance of a lull in the construction sphere - maybe the builders start to slow down and become even more careful as it's prone to economic circumstances.

If the number of building permits was below expectation, it could mean some slowdown in new construction activity, which is a negative development for employment opportunities in areas related to construction. If the decline is not as significant as expected, it could strengthen investor confidence, and that will be partially supportive of the U.S. dollar.

The indicator is probably going to determine the medium-term of the real estate market because increased building activity, usually, follows the growth of the economy. However, fluctuations in building permits might bring about mixed reactions in the market dynamic and dollar quotes.

EU leaders summit set to influence euro quotes

The bi-annual EU Leaders Summit of the Council of the European Union will kick off today, the confluence of key decision-makers and officials. What happens at this gathering will decide or influence the polity and the economic pockets of the European Union.

In the short term, quotes for the euro may change based on leadership addressing some of these pressing issues, like revival or geopolitical tensions. Consequently, they make the euro volatile depending on what rhetoric is involved and agreements during the summit are in line with the market sentiment. Traders and analysts would be keeping a close watch on press conferences and public statements from participants as harbingers for potential implications on the coming days' performance of the euro.