Housing Starts MoM measures the percentage change in the number of new residential construction projects that have begun in the United States compared with the previous month. It includes units in structures being totally rebuilt on an existing foundation. This indicator can provide insight into the housing market's strength and is closely monitored for its implications on economic growth and construction activity.
A higher than expected figure should be seen as positive (bullish) for the USD while a lower than expected figure should be seen as negative (bearish) for the USD.