In the US session Housing Starts and Building Permits data was released. Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,089,000, slightly above market predictions. This is 4.4% above the revised November estimate of 1,043,000 and is 5.3% above the December 2013 rate of 1,034,000. Single-family housing starts in December were at a rate of 728,000; this is 7.2% above the revised November figure of 679,000.
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,032,000. This was below expected figures of, 1,060,000. This is 1.9% below the revised November rate of 1,052,000, but is 1.0% above the December 2013 estimate of Single-family authorizations in December were at a rate of 667,000; this is 4.5% above the revised November figure of 638,000. Authorizations of units in buildings with five units or more were at a rate of 338,000 in December.
Focus of tomorrow's session will be on ECB interest rate decision and the following ECB Press Conference with the expectations of new monetary measures, naimly introducing of QE programme, which should bring a lot of volatility to the markets. On Eurozone data front Spanish Unemployment Rate data will be released. Analysts predict fall to 23.6%. In the US session Unemployment Claims figures are scheduled for a release. Decrease to 301,000 is forecasted.
Figures to watch:
Spanish Unemployment Rate (Thursday 09:00)
Minimum Bid Rate/ECB Press Conference (Thursday 14:30)
Unemployment Claims (Thursday 14:30)
