US housing starts dropped -3.7% to 1.29m annualized rate in April, below expectation of 1.33m. Building permits dropped -1.8% to 1.35m, marched expectations.
Canada manufacturing shipment rose 1.4% mom in March. above expectation of 1.0% mom.
Euro remains the weakest one today as weighed down by Italy concerns, followed by Sterling. Dollar is indeed the third weakest so far, as safe haven flows lifted US treasuries. 10 year yield is back below 3.06 at the time of writing, comparing to yesterday’s high at 3.094. New Zealand Dollar is the strongest one, mainly as it digests recent losses.
