The value of building permits in Canada declined 14.6 % in October to CAD 8.2 billion, following an upwardly revised 18.6% gain in September but more than an expected 3.9% tumble. The total value of non-residential permits dropped 29.5% to CAD 2.5 billion in October, after there were several large permits issued the prior month. Meantime, the total value of residential permits decreased 5.9% to CAD 5.7 billion after a record high in September.
USDCAD saw relatively small reaction to today’s data releases. Currency pair continued to trade around 1.2950 level. Source: xStation5