USDCAD grinds higher despite better Building Permits

Canada Building Permits came in stronger-than-expected today at 11.8% vs. -5.0% estimate. Moreover, last month was revised higher 16.4% vs. 13.5%. Despite the better data, the USDCAD has moved higher (lower CAD), as the market could not muster any downside momentum off the data. …

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USDCAD grinds higher despite better Building Permits