NHPI stands for New Home Price Index and it shows the change in the selling price of new homes. This is an important indicator related to the housing industry as higher prices usually are coupled with less demand from the consumer if the consumer spending is not rising sufficiently enough.
The most important things to take into consideration when looking at the NHPI indicator in Canada are:
- release date: monthly, about 40 days after the month ends;
- release time: 12:30 GMT, during the North American trading session;
- actual > forecast = positive for currency;
- actual < forecast = negative for currency;
- second tier data;
- low volatility expected.