Last month remains at 222.3K (unchanged)

The Canada housing starts (the only data of the day) came a bit early and showed a slightly better than expected rise to 223.2 vs 216.0 K estimate. Last month remain unrevised at 222.3K.

  • The multiple urban starts increased by 2.7% in August
  • Singe detached urban starts fell -3.2%
  • The 6 month moving average in August is moving higher. It increased to 219,447 units from 217,339 in July.
  • 8th month in a row above 200K

Demand continues. Good number overall. The USDCAD moved higher though. The price moved from 1.2105 to 1.2122, but has retraced to 1.2115 currently. The USDCAD has been trending back to the downside today after rallying after the ok - but not great - Canada employment report on Friday.