The Loonie strengthened against the Greenback, following the release of the canadian building permits report. The USD/CAD currency pair lost nine base points, or 0.07%, reaching the 1,2909 level, to continue fluctuating in the 1.2915 area.
Statistics Canada on Thursday revealed better-then-expected results of monthly canadian building Ppermits for January. The number of housing permits rose by 5.6%, compared to downwardly-revised 2.5% in the prior month. The data surpassed the forecast; in fact, it was the biggest growth in the eight-month period since the 12.9% jump in May 2017. One of the main reasons for this growth was the fact that permits for multi-family housing surged 71% in Toronto, Canada’s largest city.
