Just curiuos with the Ps4 getting a price hike in Canada will it effect your decision when buying a next gen console? Considering every retailer in Canada has been sold out since launch and the average person couldn't get a machine in the last 4 months this kind of seems unfair to hike the price up before the demand is met.  I myself may actually consider buying a xbone before a ps4 now because of this.

It shouldn't effect anyone's decision.  If you read into the situation, you find that the Canadian dollar has fallen in value, against the American dollar since the launch of the PS4.  Meaning, Canadian's have actually been paying less than the BOM for the PS4 for at least a month.  Currently, the Canadian dollar is worth 90c to every 1 American dollar.  Until the hike, they were paying ~$360.43 (US) for the PS4.

CAD 449,- now as well at Future shop, still sold out.
(XBox One widely available)
Some games are CAD 65,- too now. It used to be worse though, plenty games were CAD 70,- early last gen.

If you deciding to get XBO over PS4 because they raised price (reason unknown?), then you were choosing the PS4 for the wrong reasons to begin with.

Buy the 8th gen gaming console you would use, when you feel it has enough content for your tastes to justify that upgrade.

On just the value equation with PS+, there is no way I would choose any console other than any combination of owning PS3, PS4, PS-Vita

I also own the Wii U, because I love to play games with my family and it has the best 4 player family games of any console to date. There has never been a family-friendly party-game as good as Super Mario 3D World before.

The XBO currently offers me nothing I am interested in. If/when they do, I will consider making the purchase. I am looking at Quantum Break with that potential and not much else. I hate that they include Kinect that I don't want. I just don't believe in Kinect being a worthy inclusion just for voice-controls. It is an optional accessory with no optional game currently that even comes close to justifying its existence.

People need to check up on the exchange rate before freaking out.

Wait what? If anything a price raise is the only logical thing to do with such high demand.

However as I understand this price change is not due to demand but financial recalculation. I don't think there will be many people seeing this as a reason to buy X1. Swing buyers already went for X1 anyway because it is available and PS4 is not. The people who want a PS4 badly won't care about a minor increase, they care more about availability.