CAD Building Permits Rise 4.7% - 7.5.2012

The construction sector in Canada continues expansion since the Canadian Building permits rose by 4.7 per cent in March as the Statistics of Canada reported. The projected figure was at -1.5 per cent therefore there was a significant higher release, however compared to the previous result the Building permits increased with a slower pace. The US dollar against the Canadian dropped today to the 0.9945 support level and then bounced up to the 0.9968 level. Currently is trading just below the hourly 20 and 10 Moving Averages, it was lastly seen at 0.9959.