Canada August building permits 3.4% vs 0.5% expected

<ul><li>Prior was -1.5% (revised to -3.8%)</li></ul><p>This is a good report but not nearly as good as it looks before the revision. Canadian developers are still working through a deep pipeline but there's a big shakeout in the Canadian mortgage and housing markets right now that will slow activity next year.</p>

This article was written by Adam Button at www.forexlive.com.