Canada January new housing price index -0.1% vs 0.0% m/m expected
Canadian new house costs
- Prior was 0.0% m/m
- House prices -0.1% y/y vs 0.0% expected
- The yearly decline is the first one since 2009
These aren't moving in the right direction as slipping existing housing prices force new home builders to be more competitive.
USD/CAD touched a session high of 1.3342 after the data, ticking a few pips higher.