This week was a strong one for the Canadian dollar, as it reached month long highs at the beginning the week and was able to maintain this position after a mixed bag of data from the US. The biggest shock of the day was the dramatic fall in Canadian building permits – 0.9% in February – completely against the expectations of a 5% increase. However, after a drop off the month before, Canada’s new house prices jumped up 0.2%.
Looking ahead to today, we have some important unemployment data from Switzerland – and this will give a good understanding of the current position of the Swiss labour market
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