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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Building Permits MoM climbed to -1.7% in May 2026
FMPMonthlyReleased July 2026
Canada Building Permits MoM climbed to -1.7% in May 2026, released July 2026, up 4.9% from April's -6.6% reading. The reading missed the 2.4% consensus by 4.1%. The print is running well below the 12-month average of -0.45%.
Latest Release
-1.7
Actual
2.4
Consensus
-6.6
Previous
Median Absolute Error
±8.42 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 3.2
Actual: -1.7
Error: +4.9
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Moves with | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Building Permits MoM (Canada) was reported at -1.7% in July 2026. This missed the market consensus of 2.4% by 4.1%. The reading rose from the previous value of -6.6%. Trailing 12-month context per ETL data through July 2026.
WHY IT MATTERS
The trailing three releases averaged 0.33%, down from the prior three at 0.83%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD). Over the last 12 releases, the Sigmacast model's median absolute error is 8.43%.
WHAT TO WATCH NEXT
The next release is scheduled for August 12, 2026. Same-country events in the next 14 days include Balance of Trade (Aug 4) and S&P Global Manufacturing PMI (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Building Permits MoM - CA
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About Building Permits MoM — Canada
DEFINITION
Building Permits MoM (Month-over-Month) is a key financial indicator that measures the change in the number of permits issued for new construction projects on a monthly basis. This data provides valuable insights into the current and future state of the construction industry, as well as the overall health of the economy. It is closely monitored by investors, analysts, and policymakers as it can indicate trends in housing demand, consumer confidence, and economic growth. A higher number of building permits MoM is generally seen as a positive sign for the economy, while a decline may signal a slowdown in construction activity.
WHY THIS INDICATOR MATTERS
Housing data leads broader economic cycles by several months and is highly rate-sensitive, with knock-on effects to construction, materials, and consumer credit. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual -1.7 %, consensus 2.4 %. Prior reading (Apr 2026): -7.6 %. Before that (Mar 2026): 10.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - CA Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | CA | Average Weekly Earnings | 3.4 | 3.67 | 3.7 | 3.55 | Low |