Construction spending index in Forex market
This indicator is released in two alternatives: as an absolute value on all summarized spending or as a connection between the current reporting period and the previous one. This indicator is extremely reliant on the change in interest rates as construction projects usually need the use of credit. Likewise, because of market peculiarities the construction spending index varies from season to season. Furthermore, this index indirectly exemplifies the level of income of the population as the growth of construction spending indicates growth in the well-being of the people.
The impact on the market is reasonable. Construction spending growth is a favorable condition for national currency growth. The index is released on the first working-day of every month at 10:00 EST (New York).
Written by FxErvin