The Toronto Real Estate Board is reporting that condo prices are down 6.0% year-over-year midway through February. That’s sharply lower than the 1.2% y/y decline reported at the end of February, although data is limited.
The USD/CAD chart is currently flirting with 1.0135, which is the 61.8% retracement of the May-Sept decline. A break high points to the possibility of 1.0400. The market is positioned short in this pair so a squeeze quickly higher can’t be ruled out.
