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Modestly positive news on U.S. housing starts was wiped out by a large drop in building permits. Starts climbed to an annual pace of 610K in September from an upwardly revised 608K the month before. Economists were expecting a fall to 580K. The future outlook took a hit by a drop in building permits. They fell to a 539K pace from 571K in the lowest reading since the all-time of 522K in March 2009. Risk appetite continued to deteriorate after the figures. The U.S. dollar is getting a big boost from worries in the stock market and global growth concerns.
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