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.
“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.”