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CANADA DATA REACT: June Housing Starts +8.3% to......>

CANADA DATA REACT, DOLLAR-WON
CANADA DATA REACT: June Housing Starts +8.3% to 211.7K from May's 195.5K, vs MNI
median 192.5k
- Second month of surprise gains amid re-opening after Covid-19 shock, Canada
Mortgage & Housing says trend of starts still expected to trend lower in coming
months.
- Gain makes up for almost all of the slump earlier this year.
- Potential for weakness this year amid Covid, slower immigration, high
unemployment. 
- June's 6M moving average also rose to 199.7K from 197.1K, still down from a
recent peak of ~215k.
- Canada housing agency CMHC said last month "starts, sales and prices for
Canada's major housing markets are likely to remain below their pre-COVID-19
levels over the forecast period" through 2022. In May said "starts will likely
see a decline of 51% to 75% in 2020 from pre-COVID-19 levels." 

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