Canada’s housing starts likely to have decelerated in December

Canada’s housing starts are expected to have decelerated in the month of December. According to a TD Economics research report, the nation’s housing starts are likely to have slowed to a 225k pace into year-end, showing a more modest rate of multi-unit construction.

Multi-unit starts had reached their highest level on record in November and are not expected to sustain such a pace in light of a more sluggish demand environment. As such, a pullback in multi-family starts is expected to drive the headline result.

“Single family starts should prove more stable though a blanket of cold weather will weigh on construction for all home types”, added TD Economics.

At 20:00 GMT the FxWirePro's Hourly Strength Index of Canadian Dollar was neutral at - 15.6186, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 28.0301. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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