According to latest research conducted by the NAC (National Bank of Canada) and Teranet, the housing prices in Canada resumed their growth in August 2015. According to Masterforex-V Academy the growth has been shown over the last 9 months.
The index showing the prices on single-family homes in Canada’s secondary housing market increased by 0,65 in September versus 1,0% seen in August. At the same time, the year-over-year dynamics remained at the same level of 5,4% over the same reporting period.
Quebec is said to stand out from the crowd. The thing is that the housing prices in Toronto increased by 0,6% m/m and 8,7% y/y. At the same time, the same figures for Vancouver are 1.6% and 10.4% respectively. As for Quebec, despite he overall positive dynamics, the prices shrank by 1.9% and 2.8% respectively.
FOREX
Meanwhile, the Canadian Dollar keeps on showing signs of strength. USDCAD is going down and has already reached a major level of support - the bottom of the ascending MF sloping channel, Masterforex-V Academy reports. More specifically, the price is building wave 3/C inside the bullish move.
Resistance levels – MF pivot 1.3078 and the top of the descending MF sloping c
Support levels – MF pivot 1.2832 and the bottom of the ascending MF sloping channel + 1.2766, 1.2686, 1.2507.
