Forex news, rate of Canadian dollar. Canadian Statistics has published data about the country’s inflation in 2011, marking its rise to 2.9% versus 1.8% in 2010. Food products and fuel have become the leaders of price rise.
In December Consumer Price Index, on annual basis, has amounted to 2.3%, which is 0.6 percent less than in November. The drop resulted from reserved growth of fuel price and reduced number of bought cars.
In December there has also been the price rise of food products (4.4%), transport (3.3%) and housing (1.8%).
The rate of Canadian dollar keeps rising, working on the bearish scenario regarded in the overview dated January 18, 2012. Experts of Мasterforex-V Trading System pay attention to the fact that long-term minimum 1.0051 has not been passed yet. Bearish sub-wave С(С) of Daily2 minimal point will keep being formed when local minimum 1.0051 is passed. As a result of passing the minimum of 1.0051, with the formation of wave А/В of Weekly level there will also start long-term bearish trend. The nearest support is provided by Fibonacci points 1.0027, 0.9993, and 0.9980. The current sub-wave will be likely to end when sloping channel MF and pivot MF 1.0176 are passed.
