Investing.com - Canadian housing starts rose unexpectedly to hit a three-month high in March, official data showed on Tuesday.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 184,000 units in March from 183,200 units in February, whose figure was revised up from a previously reported 180,700 units.
Analysts had expected Canadian housing starts to dip to 177,000 units in March.
Following the release of the data, the Canadian dollar was modestly higher against its U.S. counterpart, with USD/CAD dipping 0.05% to trade at 1.0163.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 184,000 units in March from 183,200 units in February, whose figure was revised up from a previously reported 180,700 units.
Analysts had expected Canadian housing starts to dip to 177,000 units in March.
Following the release of the data, the Canadian dollar was modestly higher against its U.S. counterpart, with USD/CAD dipping 0.05% to trade at 1.0163.