Canadian house prices from Teranet and National Bank:
- Prior was +5.9% y/y
- Prices up 0.6% m/m
- Prior m/m reading -0.1%
- Index at 178.40
- Previously the index was at 177.35
House price inflation is back on the menu in Canada. The sharp rise in February is the kind of thing that will make the Bank of Canada think twice about cutting rates again.
No market reaction to the numbers, however. Still, USD/CAD is up just 15 pips today despite a 96-cent decline in WTI crude oil to $37.53.
