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Canada: Solid pace of home building – RBC Economics

The North American country has just released the data related to houses starts and building permits beating markets expectations, as economists at RBC Economics notes. USD/CAD has risen with the data to 1.3324. 

Key quotes

“Housing starts hit a four-month high of 213,000 annualized units in January.”

“Six-month trend edged down to 211,000.”

“Building permits rose to 227,000 in December.”

“We think the pace of starts will remain close to the current six-month trend rate, and while that's stronger than the underlying pace of household formation, if anything there's upside risk with markets thirsty for supply.”

 

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