US Building Permits Could Rise in May – Orbex Forex Trading Blog

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According to economists polled, building permits are forecast to rise. with Orbex – Open Your Account Now. A surprise disappointment on the data could no doubt raise concerns on the housing markets.

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Without any Canadian data on the docket, traders looked to the US for numbers. Building Permits is projected to rise to 1.26 million and Housing Permits are forecast to improve to 1.23 million. The USD/CAD currency pair fell 0.17% to 1.3284, from an opening of 1.3308, at 13:54 GMT on Wednesday.

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Unexpected declines in U.S. new-home construction and building permits. of the decline in starts and permits could be attributed to shortages of labor and ready-to-build lots, as well as unusually.