Canada November housing starts 212.6K vs 257.K1 expected

<ul><li>Prior was 274.7K (revised to 272.3K)</li></ul><p>I've been bearish on Canadian housing on the expectation that the Bank of Canada would keep rates high through the spring but that thinking needs to be reconsidered now as a March/April cut is increasingly likely. There is still some weakness in the pipeline but clearly not as much as before and that takes away a big risk for the loonie.</p><p>As for this report, I wouldn't take away too much from one winter month. The numbers are volatile. Canadian wholesale trade is coming up at the bottom of the hour.</p>

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