Canada’s federal housing agency says it expects the housing market to recover in the next two years after declines in home building, sales and prices. Canada Mortgage and Housing Corp. says in its annual market outlook that housing starts should come in at around 200,000 units next year after declining this year and last. It says home sales are expected to increase in the next two years, offsetting declines since 2016, as household disposable income grows. Home prices are also expected to start growing in 2020 and 2021 to raise the average price above the 2017 peak.
The U.K. Prime Minister Boris Johnson has reportedly confirmed he will give lawmakers more time to study his Brexit deal but only if they agree to a U.K. general election on December 12.Johnson said Thursday that if there is support for his election plan, then Parliament would be dissolved on November 6.
The Canadian dollar has traded within a narrow range against the USD, since October 14th, if it continues to stay between the 1.3170-1.32290 range when it eventually breaks out either way, the move will be large.