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US housing starts rise to near 8-year high in September

FXStreet (Mumbai) - According to government data released Tuesday, the housing starts in the US rose 6.5% to an annual rate of 1.21 million in September, beating the estimated rise to 1.15 million from August’s 1.126 million.

Housing starts had declined in the previous two months. The rise in September brings starts back close to June's level, which was an eight-year high.

Meanwhile, building permits; a sign of future demand, fell 5.0% in September to 1.10 million. Multi-family permits lowest since December 2014, while permits of single-family homes fell 0.3% to an annual rate of 697000.

BoC preview: See rates on hold - BAML

Research Team at BAML, expect that the Bank of Canada will likely hold rates at the October meeting even though near-term growth has been solid after a 1H contraction, but ample slack and persistent headwinds will prevent the BoC from adopting any hawkishness.
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EUR/USD trims gains, back around 1.1360

The European currency is losing some of its early shine vs. the dollar, now taking EUR/USD back towards the 1.1360 area...
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