The July Construction spending was flat on the month BUT the prior month was revised much higher at +0.9% vs -0.6% originally reported. So although a shock from the headline, with the revision, you can say it was better than the estimates at least.
  • Private construction rose 1.0% in July, with residential up 0.3%.  Nonresidential construction rose 1.7% to a record high.
  • Public construction fell 3.1% in July.
  • Govt construction declines with State and local construction falling -3.1% and Federal construction falling -3.3%.
  • Private residential home improvements rose 1.5% in July
The ISM (Institute for Supply Management) release is getting most of the press as it came in softer than expectations. The dollar has gotten hit across the board on the news with the GBPUSD pushing above the 1.3300 level. The USDJPY has moved lower to 103.65 from 103.99 high. The EURUSD is testing the 100hour MA at 1.11704 level. A move above will be more bullish for that pair (1.1213 is the 100 day MA).

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