The EUR/USD exchange rate was little changed on the US housing market data release on Friday. On the report, the Euro fell 0.03% against the US Dollar, continuing the side move up to the 0.53% drop sparked by exacerbating political uncertainty in Germany, as Chancellor Angela Merkel failed to form a three-way coalition.
The Commerce Department said that the US homebuilding rose to the highest level of the year in October, where housing starts jumped 13.7% to a seasonally adjusted yearly rate of 1.29M units, while building permits added 5.9% to a 1.30M unit rate in October. Strong figures were expected to contribute to stronger economic expansion in the US over the course of the Q4.
