Canadian housing starts likely to have rebounded in June

Canada’s housing starts are expected to have rebounded in June. According to a TD Economics research report, housing starts are likely to have recovered to a 210k rate in June on a rebound in apartments and other multi-unit projects.

Multifamily dwelling starts had recorded a 12million low in May which flies against continued strength in building permits and solid demand in the resale market. Meanwhile, single family starts are expected to have fallen in June after a stable grind lower in permit issuance.

At 14:00 GMT the FxWirePro's Hourly Strength Index of Canadian Dollar was neutral at 3.6898, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -14.5727. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex