Jim Flaherty, Finance Minister of Canada, assumes that the national economy will show moderate growth this year due to numerous negative factors, including the eurozone crisis.
According to Mr. Flaherty, the Canadian Department of Finance is not going to curb the strengthening seen in the domestic housing market. Some experts say it is overheated. However, the Finance minister says the market will balance itself.
He also underlines that the amount of new jobs increased by 82.3K in March 2012. This is the biggest growth since 2008. The Canadian authorities are said to have reached success in fighting unemployment.
Forex.
According to , the Canadian Dollar has started weakening against its US counterpart. USDCAD is forming a bullish АВС pattern of wave level Н4, which still fits into the framework of recovery against the recent downswing. The closest levels of resistance are located at 1,0301, 1,0335 and 1,0376. On breaking above 1,0424, the price will get an opportunity to resume the rally. The current bullish movement will be completed as soon as the price breaks below the Mf sloping channel and consolidates below the MF pivot 1,0176.
