Statistics Canada has recently reported another report. The report says that the housing price growth seen in September 2015 in the sector of new residential property showed a slowdown relative to August’s figures and analyst estimates, Market Leader reports.
This leads us to believe that the actual figures failed to come up to analyst expectations. In particular, the prices on new homes increased by as little as 0,1% as compared to 0,3% seen in August 2015. We also remind you that the expectations indicated a slowdown to 0,2%.
As for the year-over-year figures, the price growth amounted to 1,3% relative to September 2014. It should also be noted that the index of prices on new homes. All in all, the residential property in Canada is still appreciating.
FOREX
In the meantime, the Canadian Dollar keeps on moving along the long-term downtrend against the U.S. Dollar. Masterforex-V Academy reports that USDCAD is currently rallying and trading at 1,3320.
On its way to further highs, the price may well encounter resistance around the all-time high located at 1,3456. Alternatively, on breaking below 1,3045 and the bottom of the ascending MF sloping channel, the rally will be complete.
