Canada: Focus on housing data – TDS

According to analysts at TD Securities, Canadian housing starts and building permits will give an update on residential investment.

Key Quotes

“TD looks for housing starts to slow to a 212k pace in May (market: 205k) on a pullback in multi-unit construction, which reached a new record the prior month.”

“April building permits will be released shortly afterward at 8:30 ET, with the market consensus looking for a 1.8% advance.”