Building Permits m/m (CAD) comes in at 18.5% against 4% consensus
| Pair | Now | Since publish |
|---|---|---|
| USDCAD | — | — |
Canadian Building Permits month over month for July registered a substantial increase of 18.5%. This figure significantly surpassed the market consensus forecast of 4%, representing a surprise of 362.5% against expectations. The previous month’s reading was -1.7%, indicating a strong rebound in the latest data.
Following the release, the Canadian dollar experienced varied movements against major currencies. Fifteen minutes after the data, AUDCAD was up +19 pips, exceeding its typical top-quarter move of 13+ pips. EURCAD rose +17 pips, surpassing its median 1-hour move of 14 pips. NZDCAD gained +12 pips, also above its median 7 pips. GBPCAD moved +8.2 pips, while USDCAD declined -6.4 pips. CADJPY fell -6.6 pips, and CADCHF was down -2.1 pips. These latter moves were smaller compared to their respective median 1-hour moves of 9 pips and 6 pips.