Investing.com - Canadian housing starts rose more than expected in November, one month after hitting the lowest level in seven months, official data showed on Monday.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts increased to 195,600 units last month from October’s total of 183,700 units.
Analysts had expected Canadian housing starts to rise to 194,600 units in November.
“The trend essentially held steady for a third consecutive month in November,” said Bob Dugan, CMHC’s Chief Economist.
USD/CAD was trading at 1.1446 following the release of the data from around 1.1443 before.