Canada: Building Permits declined by 1.5% in October vs. +2.9% expected
|- Building Permits in Canada declined unexpectedly in October.
- USD/CAD pair continues to move sideways in daily range despite uninspiring data.
The total value of Building Permits issued by Canadian municipalities declined by 1.5% to $8.3 billion on a monthly basis in October and fell short of the market expectation for an increase of 2.9%, the data published by Statistics Canada showed on Monday. Additionally, other data revealed that Housing Starts came in at 201,300 on a yearly basis in November to miss analysts' forecast of 205,000.
The disappointing data was largely ignored by the market participants and the USD/CAD pair was last seen trading at 1.3255, where it was virtually unchanged on the day.
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