Yellen remarks and Canadian housing data in focus – TDS

Analysts at TDS suggest that today, all attention will be on Fed Chair Yellen’s remarks at the University of Michigan and the Canadian residential construction data.

Key Quotes

“Canada: Residential construction is set to accelerate further in March, with both TD and the wider market calling for housing starts to increase to an annualized 215k. The pickup in construction should be driven by multi-unit starts, while a decline in single-unit permit issuance argues for a slowdown in housing starts from their cycle-high in February.”

“US: All attention will be on Fed Chair Yellen’s remarks at the University of Michigan. No official topic has been released and Yellen will be taking questions from the audience and Twitter, though she will likely keep the content and tone of her answers consistent with her press conference in March and the FOMC minutes.”