Housing Corporation at 184K units

Wednesday, 8 June 2011 03:43

Canada's awaited Mortgage and Housing Corporation news release came out just minutes ago.  Housing Starts was released at 184,000 for May, up from April's roughly 179,000 units.  The announcement for Canada was in line with expectations, which run at 184,000 units too.

Canada's Housing Starts measures the figure of new residential buildings that began construction during the previous month; and this information is reported annualy, even though data is released and collected on a month-to-month basis.

Annual Rate for housing starts was increased by 0.8% in May.

Most major currencies remained almost the same after the news release; EUR/CAD was trading at 1.4340 prior to the news, before falling to 1.4335 after the release.  USD/CAD is currently at 0.9816.