CAD: PMI and building permits in focus - TDS

Research Team at TDS, suggests that Canada’s building permits for May should give us an early indication towards the strength of residential building activity before the release of housing starts next Monday.

Key Quotes

“The market is calling for a 1.5% m/m increase in the value of permits issued. Ivey PMI will be released later in the morning and is expected by the market to rebound to 51.2 in June after falling below 50 last month.”