Canada April housing starts 262K vs 220K expected

• Prior was +213.9K

The main risk around the Canadian economy this year was housing and rates are certainly weighing on the Canadian consumer but those risks are being swamped by the +1m/year pace of immigration into the country of 39m people. That's keeping the housing market strong and now home builders are starting to go back to work -- if they can find workers.

I'm still cautious on CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i Read this Term because consumer spending is going to sputter and the BOC will cut before the Fed but once the market gets its head around the looming mild recession, then there will be a big opportunity for the loonie Loonie When we write about the loonie, we're not talking about the craziness of the market. The "loonie" is a nickname for the Canadian dollar (CAD), the official currency of Canada. The name "loonie" comes from the image of a loon on the one-dollar coin. A loon is a duck-like aquatic bird that's revered for its call.The loonie is closely tied to the price of oil, which is one of Canada's major exports. As a result, changes in the price of oil can have a significant impact on the value of the Canadian When we write about the loonie, we're not talking about the craziness of the market. The "loonie" is a nickname for the Canadian dollar (CAD), the official currency of Canada. The name "loonie" comes from the image of a loon on the one-dollar coin. A loon is a duck-like aquatic bird that's revered for its call.The loonie is closely tied to the price of oil, which is one of Canada's major exports. As a result, changes in the price of oil can have a significant impact on the value of the Canadian Read this Term.