Forexpros – Canadian new house prices rose less-than-expected in October, official data showed on Thursday.
In a report, Statistics Canada said its new housing price index rose by 0.2% in October, falling short of expectations for a 0.5% gain.
New house prices rose by an unrevised 0.2% in September.
The metropolitan regions of Toronto and Oshawa, and Edmonton were the top contributors to the increase in October. The positive impact of these metropolitan regions on the overall index was offset in part by decreases observed in Vancouver and Victoria.
Year over year, the NHPI was up 2.5% in October. The main contributor to this advance was the metropolitan region of Toronto and Oshawa.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD slumping 0.26% to trade at 1.0071.
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