-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessCanada Data Preview: Housing In The Spotlight
By Yali N'Diaye
OTTAWA (MNI) - The October 9 data week will start and end with housing in
the spotlight, from the permit stage to actual starts to selling prices.
The most important for markets will be CMHC September housing starts report
on Tuesday, with analysts in a MNI survey expecting annualized starts to come in
at 210,000 units, a nearly 6.0% decline from August, albeit still robust.
Forecasts range from 205,000 to 220,000 at a seasonally adjusted annual
rate.
Desjardins economists, expecting housing starts to decline to an annual
rate of 210,000, argued in their research note that higher interest rates since
the summer should begin to impact residential construction.
TD analysts expect the softening to be led by multi-family units, while
single-family starts could bring some positive offset. Overall starts should be
led by Ontario, the bank expects.
Scotiabank analysts expect housing starts to edge down to a still
"elevated" 210,000 rate, "given that the volume of dwelling permits being issued
is a leading indicator and remains elevated itself."
Building permits, a leading indicator of construction activity, to be
released on Tuesday shortly after housing starts, rose 10.7% in May, 4.4% in
June, before sliding 3.5% in July.
For August, BMO economist Benjamin Reitzes forecasts a further 1.0%
decrease in construction intentions, led by the residential sector, which
recorded a 2.2% decrease in July.
Conversely, "broader economic strength and government infrastructure
spending should provide a boost to non-residential activity," he wrote in his
weekly commentary Friday.
On the price front, BMO sees new housing prices edging up 0.2% in August,
for a 12-month gain of 3.9%, a pick up from 3.8% in July.
The more current and more comprehensive Teranet-National Bank House Price
Index, which will be released on October 12, the same day as Statistics Canada's
New Housing Price Index, should rise at a slower year-over-year pace of 12.0% in
September, according to Capital Economics, after a 13.1% gain in August.
--MNI Ottawa Bureau; +1 613 869-0916; email: yali.ndiaye@marketnews.com
[TOPICS: M$C$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.