Canada: Building Permits rose 7.4% in December vs. 0.6% expected
|- Building Permits in Canada rose more than expected in December.
- USD/CAD posts small daily gains above 1.33 after data.
Building Permits issued by Canadian municipalities increased by 7.4% to $8.7 billion in December, the data published by Statistics Canada showed on Monday. This reading followed November's 3.5% decline (revised from -2.4%) and came in better than the market expectation of +0.6%.
"The total value of permits for single-family dwellings decreased 3.2% to $2.2 billion, with the largest decline in Ontario (-$76 million)," the publication read.
USD/CAD reaction
The USD/CAD edged higher with the initial reaction to the data and was last seen trading at 1.3315, adding 0.03% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.