Housing Data Grim

Today?s housing data came in missing its estimate at 215K versus the 223K forecasted. The four month low figure teamed up with today?s credit crisis to drive down the Canadian dollar. Tomorrow?s expected flat unemployment data should not do much to move the dollar, but a surprise to the upside may be met with a Loonie reversal.

[B]Previous 24 hours:[/B]
[B]Housing Starts /B
Actual: 215.6K
Previous: 225.3K
[B]New Housing Price Index /B (JUN)
Actual: 0.7%
Previous: 1.1%

[B]Next 24 hours: [/B]
[B]Unemployment Rate (JUL)[/B]
Expected: 6.1%
Previous: 6.1%
[B]Net Change in Employment (JUL)[/B]
Expected: 23.5K
Previous: 34.8K

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