Canada December building permits +7.4% vs +2.8% expected
Canadian December building permits data:
- Four-month high
- Prior was -2.4% (revised to -3.5%)
- Ontario +10.5%
- Quebec +15.8%
- Multi-family +15.9%
- Single-family -3.2%
CAD is more-concerned with oil and the risk trade right now but that's the story everywhere. All the data right now is going into the 'back pocket' of the market and if/when coronavirus fears fizzle, then we will see it have an impact.
USD/CAD is up 5 pips on the day to 1.3313.