Canada: Building permits rose for a second straight month, up 3.5% to $8.2 bln in Oct

Eren Sengezer FXStreet

"The value of building permits rose for a second straight month, up 3.5% to $8.2 billion in October," the Statistics Canada reported today.

Key highlights

All building components increased with the exception of the institutional component, which declined 14.3%, offsetting much of the gain from the previous month.

The value of permits for non-residential buildings increased $171.7 million to $3.3 billion in October, the second consecutive monthly gain.

The commercial component was the main contributor to the 5.5% increase in the non-residential sector.

The value of permits for the industrial component passed the $700 million-mark for the first time in five years.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.