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Global Markets: Canadian house prices decline

By Commodity News Service Canada

WINNIPEG, May 15 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Average Canadian house prices declined by more than 11 per cent on an annual basis as of April, according to a report from the Canadian Real Estate Association. New stress test regulations implemented in January were partially behind the decline. The largest losses were in Vancouver and Toronto, with average home prices across the country only down 4.1 per cent with those two cities excluded.

– The United States Supreme Court has struck down a 1992 law banning sports gambling and endorsed a 2014 New Jersey ruling allowing sports betting in casinos and horse race tracks. The move opens the door for states across the country to legalize sports gambling.

– European and Iranian officials are meeting in Brussels today in an attempt to save the nuclear deal that U.S. President Donald Trump backed out of last week.

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