Loonie Stable Versus Dollar After Canadian Housing Starts Fall Much Less Than Expected [USD/CAD]
4/8/2008 9:34:11 AM The loonie was steady to the dollar Tuesday morning after the release of data showing a smaller than expected decline in Canadian housing starts. The loonie was at 1.0130 at 9:30 am ET, little changed from the previous session.

The seasonally adjusted annual rate of Canadian housing starts was 254,700 units in March, slightly down from 255,600 units in February, according to Canada Mortgage and Housing Corporation (CMHC). The mere 0.4 percent decline shattered expectations of a 13 percent drop in housing starts.

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