U.S. housing starts, building permits, and PPI are coming up on the U.S. docket. At 8:30 a.m. ET, July U.S. housing starts data is expected to show a building pace of 560K, up from 549K in June. Starts have declined every month since April and there will be a large focus on this report after Monday’s disappointing home-builder sentiment data. Building permits are expected to fall to 580k from 583k the month prior. At the same time, the July U.S. producer price index is expected to rise 4.2% y/y, pointing to the potential for some future inflationary pressures; in monthly terms prices are expected up 0.2% after a -0.5% reading in June. Given that the PPI report is being released this month after CPI, focus will definitely lie on the housing data. Head of the releases, Euro/USD is up 0.37 cents to 1.2864, USD/CAD down 0.63 cents to 1.0371, USD/Yen down 0.05 points to 85.27, GBP/USD down 0.38 cents to 1.5626, and AUD/USD up 0.44 cents to 0.9026.