Housing prices in Canada kept on growing in August, according to the joint report published by the Bank of Canada and Teranet. Analysts say that this has been the 8th consequent month of higher housing prices in Canada.
The index of housing prices for one-family homes was equal to 1% (m/m) in August. As for the year-over-year figures, the increase was equal to 5,4% over the same reporting period, Masterforex-V Academy reports.
FOREX
In the meantime, the Canadian Dollar is consolidating against the downtrend versus the U.S. Dollar. According to Masterforex-V Academy, USDCAD has completed another bearish move – wave A/B of level H8. At this point, the currency pair is still building a bullish move – wave B of a bigger scale move. On breaking below the 1.3115 low, the currency pair will start wave 4 of level Daily. If that’s the case, the following level are likely going to act as major levels of support - 1.3063/59, 1.2969, 1.2884/78. Alternatively, if the price does overcome the 1.3352 high, the price is going to continue its way up inside wave 5 or the “Hound of the Baskervilles” pattern by Elder/MF. In this case, we are going to see 1.3454/69, 1.3497 acting as major levels of resistance.
