2012-06-08 14:18:00
At the Forex currency market the Canadian Dollar rate goes down at the end of the week- this time because of a new surge of risk aversion among investors.
Forex forecast: MACD indicator for the pair USD/CAD traded along the signal line in the positive area, and is not giving a clear signal. Stochastic Oscillator descends in the neutral zone and is giving a moderate sell signal.
Forex recommendations: in case of breakdown at the level of 1.0345 the pair will go to 1.0350 and 1.0360 and further on.
Statistics released earlier showed that leading indicator index rose by 0.3% in April against expectations of growth of 0.4%, which was the tenth factor of growth in a row. At the same time, retail sales in Canada increased by 0.4% in March versus forecast of +0.3% m/m.
The head of the Bank of Canada Mr. Carney said this month that monetary tightening can be justified only if it progresses gradually. This subject has been raised recently: Mr. Carney said a week earlier that economic recovery would increase chances of monetary policy tightening. In the meanwhile stimulation of economic activities will be maintained.
According to projections made by the Bank of Canada, country's economy will regain maximum performance in the first half of 2013. The head of the Bank of Canada Mr. Carney said earlier that economic growth in the country is above the forecast and authorities have number of tools in order to protect housing market from overheating. Nevertheless instruments of monetary policy will be applied only in case of emergency.
PMI fell to 52.7 points in April from 63.5 points a month earlier; thus, the index has been declining for the second consecutive month. According to report two out of 4 components of PMI demonstrated growth last month; however the data on employment rate (decline to 52.2 from 52.7) and price component (60.3 from 63.9) have disappointed investors. At the meeting of the Bank of Canada earlier interest rate was left at the level of 1.0% per annum, as expected. Comments of the head of the regulator Mr. Carney were neutral.
Statistics released earlier showed that GDP in Canada increased by 0.1% m/m (+1.6% y/y) in March against decline of 0.2% m/m in February.
It became known earlier that CPI in Canada rose by 0.4% m/m (+2.0% y/y) in April; inflation, excluding food and energy, rose by 0.4% m/m (+1.9% y/y) last month. Wholesale sales increased by 0.4% in March against forecast of +0.3%. The index looks encouraging.
Forex forecast: MACD indicator for the pair USD/CAD traded along the signal line in the positive area, and is not giving a clear signal. Stochastic Oscillator descends in the neutral zone and is giving a moderate sell signal.
Forex recommendations: in case of breakdown at the level of 1.0345 the pair will go to 1.0350 and 1.0360 and further on.
Statistics released earlier showed that leading indicator index rose by 0.3% in April against expectations of growth of 0.4%, which was the tenth factor of growth in a row. At the same time, retail sales in Canada increased by 0.4% in March versus forecast of +0.3% m/m.
The head of the Bank of Canada Mr. Carney said this month that monetary tightening can be justified only if it progresses gradually. This subject has been raised recently: Mr. Carney said a week earlier that economic recovery would increase chances of monetary policy tightening. In the meanwhile stimulation of economic activities will be maintained.
According to projections made by the Bank of Canada, country's economy will regain maximum performance in the first half of 2013. The head of the Bank of Canada Mr. Carney said earlier that economic growth in the country is above the forecast and authorities have number of tools in order to protect housing market from overheating. Nevertheless instruments of monetary policy will be applied only in case of emergency.
PMI fell to 52.7 points in April from 63.5 points a month earlier; thus, the index has been declining for the second consecutive month. According to report two out of 4 components of PMI demonstrated growth last month; however the data on employment rate (decline to 52.2 from 52.7) and price component (60.3 from 63.9) have disappointed investors. At the meeting of the Bank of Canada earlier interest rate was left at the level of 1.0% per annum, as expected. Comments of the head of the regulator Mr. Carney were neutral.
Statistics released earlier showed that GDP in Canada increased by 0.1% m/m (+1.6% y/y) in March against decline of 0.2% m/m in February.
It became known earlier that CPI in Canada rose by 0.4% m/m (+2.0% y/y) in April; inflation, excluding food and energy, rose by 0.4% m/m (+1.9% y/y) last month. Wholesale sales increased by 0.4% in March against forecast of +0.3%. The index looks encouraging.