Construction data in Canada
- Housing starts (June), fact 245.7K, forecast 210.0K.
- Building permits (m/m) (May), fact -13.0%, forecast -2.5%
Data on construction in Canada turned out to be very diverse. Thus, the construction of new homes in June rose to the maximum values for the year. At the same time building permits showed a reduction to the minimum values of 2016. This may indicate a more rational use of the permit and accelerate the real estate market in Canada, thanks to actual construction.
Fig. 1. Housing starts chart in Canada
The Canadian dollar strengthened relentlessly on the published data, but continued to remain under the pressure from negative sentiment. The USD/CAD pair slowed down on the overall growth of the American dollar, which slowed down the monthly downward trend, but continues to be limited in growth by the level of 1.3140-30. This retains the potential for a resumption of decline when returning below 1.3100.
Fig. 2. USD/CAD chart. Current price – 1.3120
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Hanzenko Anton
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