Investing.com – Canadian new house prices rose unexpectedly in August, official data showed on Wednesday.
In a report, Statistics Canada said its new housing price index rose by 0.1% in August, after falling by 0.1% in July. Analysts had expected the new housing price index to decline by 0.1% in August.
The report said that year-on-year, the NHPI was up 2.9% in August following an identical increase in July. House prices rose the most in Toronto, Oshawa, Hamilton and Montreal.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD falling 0.70% to hit 1.0030.
In a report, Statistics Canada said its new housing price index rose by 0.1% in August, after falling by 0.1% in July. Analysts had expected the new housing price index to decline by 0.1% in August.
The report said that year-on-year, the NHPI was up 2.9% in August following an identical increase in July. House prices rose the most in Toronto, Oshawa, Hamilton and Montreal.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD falling 0.70% to hit 1.0030.