Quiet Markets Today because of US Bank Holiday Weekend
Skerdian Meta • 1 min read
Markets have been quite volatile in recent months, and so far in January, they have turned even more volatile. Today though, we are seeing some calm times in financial markets, thanks to the US bank holiday weekend in remembrance of the Martin Luther King Day. The only decent data release was the Canadian housing starts figures, which were published a while ago.
Canadian Housing Starts Report for December
- Canada December housing starts 228.3K vs 230.0K expected
- Prior was 264.0K
- Starts down 12.6%
- Single-detached homes -6.1%
- Multiple starts -15%
A 12.6% drop sounds bad, but starts are volatile, and December is a tough month in Canada in terms of seasonal adjustment, because construction is wound down drastically.