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Data from Statistics Canada. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Housing Starts YoY held to 174.9K in May 2013
Statistics CanadaMonthlyReleased May 2013
Canada Housing Starts YoY held to 174.9K in May 2013. The reading matched the 175K consensus.
Latest Release
174.9
Actual
175
Consensus
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Housing Starts YoY (Canada) was reported at 175 thousand in May 2013. This missed the market consensus of 175 thousand by 0 thousand. This is classified as a medium-impact indicator released on a monthly basis.
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).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Current Account (May 28) and Financial Stability Report (May 28).
Auto-generated from current model state · Refreshes on each release · Last update May 2013.
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Housing Starts YoY - CA
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About Housing Starts YoY — Canada
DEFINITION
Housing Starts YoY is a key financial indicator that measures the annual change in the number of new residential construction projects started in a given period. This indicator provides valuable insights into the health of the housing market and the overall economy, as it reflects the level of demand for new homes and the confidence of builders in the market. A positive YoY growth in housing starts indicates a strong and growing housing market, while a negative growth may signal a slowdown or contraction. Investors and policymakers closely monitor this indicator to make informed decisions about the housing sector and its impact on the broader economy.
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 2013): actual 174.9 K, consensus 175 K.
WHAT'S NEXT
This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.