US: Focus on housing starts and permits - BBH

Analysts at BBH point out that the US reports October housing starts and permits data and a strong rebound is expected after a weak September report saw a 4.7% decline in starts and a 4.5% fall in permits.  

Key Quotes

“The New York and Atlanta Fed will update their GDP trackers.  Coming into today, the latest estimate of both is 3.2% for Q4.  There may be scope for slightly higher figures as the recent data is incorporated.   Canada reports October CPI figures.  The headline pace is expected to slow to 1.4% from 1.6%.  The Canadian dollar has been sensitive to economic data, but the central bank is seen on hold well into next year.”