Forex news, rate of Canadian dollar. Statistics Canada informs about the rise of debt and personal expenditure ratio during the 3rd quarter of 2011 by 2.5% to the point of 152.98%. According to Mark Carney, the Governor of the Bank of Canada, about 10% of Canadians are having difficult financial position when debt obligations are 40% higher than their earned profit.
It is also worth mentioning that the debt in terms of one Canadian family has broken its last record, as well as the value of equal parameter in Great Britain and the USA, coming closer to these countries’ maximal points, fixed in 2007.
The current situation is rather dangerous, as any negative economic issue may result in serious financial problems for thousands of Canadian families. Another negative aspect is the fact that in 2012 the rising debt may result in shortage of household expenditures, which will also have a negative impact on Canadian economy.
Rate of Canadian dollar stopped rising, having switched to the implementation of bullish scenario regarded in the overview dated 04/01/2012. According to the experts of the Department of Мasterforex-V Trading System, bullish wave А(С) or reduced wave С of Daily2 level is over. At present, bullish wave А/В with Daily2 potential is being formed. Resistance is provided by Fibonacci points 1.0214, 1.0243/47, and 1.0283/87, as well as pivot MF 1.0305. The current bullish wave will be over when sloping channel MF and pivot MF 1.0112 are passed. When the minimum of 1.0075 is passed, there will start bearish wave А(С)/С, supposingly of Daily3 level. The nearest support will be provided by long-term minimum 1.0051.
