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Housing starts in Japan rose during the month of November, albeit at the weakest pace in three months, government data showed.
Japan’s Housing starts grew at a slower pace of 6.7 percent year-on-year in November, following a 13.1 percent rise in October. The annual growth was the weakest since August and also slower than the expected 9.8 percent increase, data released by the Ministry of Land, Infrastructure, Transport and Tourism showed Tuesday.
Annualized housing starts declined to 937,000 from 978,000 a month ago. This was the lowest level since January, when it totaled 873,000. Construction orders received by 50 big contractors dropped 6 percent in contrast to October's 15.2 percent notable growth. Orders declined for the first time in four months in November.
Meanwhile, the USD/JPY traded at 117.31, up 0.22 percent, while at 10:00GMT, the FxWirePro's Hourly Swiss Franc Strength Index remained highly bullish at 102.28 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
