According to CREA, the amount of home sales in Canada declined by 3.1% in May 2012. This is the first decline since January 2012.
The average housing price in Canada reached $375,605 in May. According to Gregory Clump, Toronto’s housing market was more active last month. The dwelling property was sold faster despite higher prices.
Forex.
According to the currency strategists of , the Canadian Dollar keeps strengthening against its US counterpart. AUDUSD keeps forming the ABC pattern. The experts assume that the current move fits into the retracement against the previous bullish. The currency pair is currently forming wave а(С)/С of wave level Daily. The following levels are the closest major levels of support: 1,0090,1,0050 и 0,9980/1,0000. The major downtrend may resume only after breaking and consolidating below 0,9874.
In order to resume the rally, the currency pair will have to above the top of the MF sloping channel and to consolidate above the MF pivot 1,0358.
