Forex Trading News & Analysis

Canadian housing starts are trending higher in March

Housing starts are trending higher at 211,342 units in March 2017, compared to 205,521 units in February 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“March housing starts were at their highest level since September 2007, pushing the trend in housing starts upward for a third consecutive month,” said Bob Dugan, CMHC’s Chief Economist. “Stronger residential construction at the national level is reflected by a rising trend in single-detached and multi-unit starts in Ontario and continued growth of new rental apartments in Québec.”

Vancouver housing starts trended lower for the fourth consecutive month but, remained above the five-year average. Actual housing starts reached the highest level on record for March since 1972, driven by new apartment construction. Starts activity in the Vancouver CMA is also picking up again after an unusually cold winter.

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Forex Trading News & Analysis

USD/CAD intraday technical levels and trading recommendations for April 10, 2017

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel.In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of t…

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Forex Trading News & Analysis

NZD/USD Intraday technical levels and trading recommendations for April 10, 2017

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide suff…

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Forex Trading News & Analysis

Far-right’s Le Pen to get 24 pct (-1) in 1st round of French election, Macron 23 pct (-1), Fillon 19 pct (-1) – Opinionway poll

Macron seen beating Le Pen in run-off vote by 62 pct Fillon would beat Le Pen in run-off vote by 57 pct to 43 pct if Fillon made it through to second round

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