Prior month was at 3.5% revised higher to 4.4%

  • The value of building permits issued by Canadian municipalities declined 7.7% to $7.7 billion in November, the first decrease in three months.
  • October ruling permits were revised higher to 4.4% from +3.5%
  • Nationally, the value of permits for all building components declined, with the exception of single-family dwellings.
  • The value of building permits for non-residential structures fell 12.3% to $2.9 billion in November, following two monthly increases

The price of the USDCAD moved up about 10 pips on the data release, but is back down. Not a big reaction to the volatile winter data.