Fundamental Analysis

Fundamental Analysis

USD/CAD: Canadian Housing Starts
Tue, 12 Sep 2017 05:47:19 GMT
Source: Dukascopy Bank SA

The USD/CAD exchange rate rose modestly, as the Canadian property market revealed positive results for the month of August. The Greenback appreciated against the Canadian Dollar by 12 base points to the 1.2118 mark and continued climbing to touch the daily high of 1.2166.  

The Canada Mortgage and Housing Corporation reported on Monday that the country's housing starts increased surprisingly to the seasonally adjusted yearly rate of 223K in August, following an upwardly revised figure of 221K registered in the prior month and holding above the 200K unit mark for eight months in succession. The surge was driven by higher multiple building construction, which managed to offset a decrease starts of single detached houses.

Historical Data Table: Canadian Housing Starts
Date 08.05.2017 08.06.2017 11.07.2017 09.08.2017 11.09.2017
Actual 214K 195K 213K 222K 223K
Forecast 220K 205K 200K 204K 216K
Initial Reaction on Main Pairs
  Open Price Close Price % Change
AUD/CAD 0.97448 0.97496 0.05%
CAD/CHF 0.7851 0.7845 -0.08%
EUR/CAD 1.45253 1.45376 0.08%
USD/CAD 1.21064 1.21185 0.10%

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