US housing data in focus today – Danske Bank

Analysts at Danske Bank point out that it is a very thin calendar today with the only release being US building permits and housing starts in June.

Key Quotes

“Both figures have been on a downward trend for most of this year after being on strong upward trends since 2011. That said, consensus is for an increase in both building permits and housing starts in June.”

“Before European markets open on Thursday morning, the Bank of Japan (BoJ) is due to announce its monetary policy decision. We expect the BoJ to keep its 'QQE with yield curve control' policy unchanged, which is widely expected, especially after earlier this month it demonstrated its strong commitment to yield curve control by announcing an unlimited fixed-rate purchase of 10Y JGBs. The announcement should not have any significant impact on price actions.”