USD/CAD extends the winning streak on the third successive day, trading higher near 1.3720 during the Asian session on Thursday. Despite the better-th
USD/CAD extends gains on the third successive day due to risk aversion. Canada’s Housing Starts increased to 270.5K against the market expectations of 240.0K and the previous 250.4K. Higher US Treasury yields provide support to underpinning the US Dollar. an-expected Canada housing data, the pair receives upward support due to the risk-on sentiment. Canada Mortgage and Housing Corporation released Housing Starts s.a for September, increasing to 270.5K against the market expectations of 240.
On the positive side, Building Permits in September surpassed expectations, painting a rosy scenario. Meanwhile, Housing Starts saw a rebound, though slightly below the market consensus, introducing a layer of complexity to the storyline. To broaden the view, the Beige Book's observation noting "little to no change" in economic activity during September and early October provides a more comprehensive perspective.
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