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Loonie Ignores Poor Housing Data

09.07.2010, 12:39:16 PM

by Anonymous

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The Canadian dollar has ignored a weaker than expected performance in June housing starts. According to the Canadian Mortgage Housing Corporation, annualized housing starts declined to 189.3k despite expectations for a pullback to 190.3k from 195.3k the month prior. The data, although CAD negative, were broadly ignored after a much stronger than expected jobs report from the region sent the currency soaring. USD/CAD last traded lower by 79 pips at 1.0341, and remains the top performer of the day.

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