Building Permits in Canada were released earlier today with results at a much higher percentage than expected. In May 2011 20.9% of new building permits were issued in Canada; hugely larger than the 5.1% that was initially foracasted and expected by economists. In April, 21.5% of new building permits were issued.
USD/CAD was trading at 0.9660 in the time on the news release. A little after the news release, the pair went to 0.9674 and then later fell down to 0.9654 that it's currently trading.
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