CAD: Housing data in focus today - TDS

Research Team at TDS, suggests that Canada’s October housing starts have moderated from last month’s 220k advance and TD is roughly in line with the market and looks for housing starts to slow to 196k, reflecting a pullback in both single and multi-unit construction.

Key Quotes

“Building permits for September will follow shortly afterwards, with markets expected a 4.3% m/m pullback following the unsustainable 10% gain in August. Turning to the Bank of Canada, Deputy Governor Schembri is scheduled to speak at 1120 ET on the export outlook.”