Extends small range but not in a hurry. Bears hoping for more.
The EURUSD is trading to new session lows and the lowest level since July 27th. Last weeks low at 1.09633 was taken out but only by 3 pips so far. The new lows, extending a paltry trading range of 32 pips coming into the US session (the range is now 44 pips. Yippee!). The housing starts and building permits ran opposite to each other with housing starts at the lowest level since March of 2015. The Building permits, however were up 6.3% (1225K vs 1165K est.). We are seeing a little rebound off the data (about 10-12 pips).