The Canadian Dollar is a beast this morning, heading towards 1.0360 against the U.S. Dollar. Canadian building permits sky-rocketed this morning, exceeding economists expectations by 16.3%.
Canadian government figures show that the value of projects, such as shopping malls and office buildings, almost doubled in July.
Building permits rose to a total value of 8 Billion CAD dollars.
The large increase in July likely came because of construction intentions for building in Ontario, Quebec, and Alberta.
For news updates and more fundamental analysis, follow me on Twitter. Follow the Winner’s Edge account, Casey’s twitter account, Nathan’s twitter account, and Tim’s twitter account too for Forex analysis, and trade ideas!
For the most recent Technical Analysis click here!
Winner’s Edge Trading, as seen on: