Helena Izotova
Forex market news, CADUSD. Statistics Canada has informed that the sales volume of Canada and PRC in 2011 has increased and amounted to 65 bln. Canadian dollars. This is higher than in 2002 by 223%.
It is worth mentioning that the share of PRC in Canadian foreign trade turnover has considerably increased during last ten years.
According to the results of 2011, Canada has imported Chinese goods to the sum of 48.2 bln. Canadian dollars. Increase in comparison to 2002 has amounted to 201%. Canadian export into PRC has also increased according to the results of 2011, amounting to 16.8 bln. Canadian dollars. Increase in comparison to 2002 has amounted to 306%.
It is also worth mentioning that Canadian foreign trade turnover during 2010-2011 has started recovering since the crisis year of 2009, for Canadian export has increased to 457.6 bln. Canadian dollars, which is 13% higher than in 2009. Import has increased to 456.4 bln. Canadian dollars, which is 8.6% higher than in 2009. Another advantage of 2010-2011 is the fact that the share of the closest neighbour – the USA has decreased, and consequently dependence from. The share of American export within the total volume of export goods has decreased from 87.1% in 2002 to 73.7% in 2011.
CADUSD has finished bullish wave 0.9859-1.0038, which has become the 4th wave of H8 level, and has formed bearish wave АВС of Н8 level. According to the experts of Masterforex-V Trading System , 5th wave of long-term bearish trend of W level is forming. When the previous minimal point 0.9859 is broken, the pair will continue the long-term bearish trend of W level. Elder’s Hound-MF will favour the continuation of the trend. In order to continue the mid-term bullish trend, the pair is to cover points 0.9956, 0.9978, 1.0005, and sloping channel MF. The trend will change when pivot MF 1.0031 is broken.
Helena Izotova
