Mon Aug 11, 7:15pm (GMT +7:00) : CAD : High Impact Expected : Housing Starts

Source CMHC (latest release)

Measures Annualized number of new residential buildings that began construction during the previous month;

Usual Effect Actual > Forecast = Good for currency;

Frequency Released monthly, about 9 days after the month ends;

Next Release Sep 9, 2008

FF Notes While this is monthly data, it's reported in an annualized format (monthly figure x12). Market impact tends to vary and is occasionally quite hefty;

Why Traders
Care It's a leading indicator of economic health because building construction produces a wide-reaching ripple effect. For example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder; Acronyms Canada Mortgage and Housing Corporation (CMHC);