Forex market news, CAD/USD. In April 2012 Canadian export dropped due to price drop, and import, on the contrary, increased. It is worth mentioning that the country’s import has been rising for five months in a row. This has been informed by Statistics Canada (StatCan).
According to StatCan, this April Canadian export has dropped by 1.9%, having amounted to 39.1 bln. dollars in money terms. The decline is mostly caused by price drop for equipment and mechanisms, as well as for industrial goods and materials.
At the same, import has risen to 39.5 bln. dollars. The rise mostly concerns the import of consumer and automobile goods, whereas the import of energy products has dropped this April.
It is also mentioned in the report that US import has risen by 1.3%, to 24.6 bln. dollars in money terms, and US export has dropped by 1.2%, amounting 28.4 bln. dollars in money terms.
CAD/USD is within the flat zone of 5th sub-wave of bearish wave С not less than of Н8-12 level. According to the experts of Masterforex-V Trading System , if the bottom line of the flat 1.0199 is broken, bullish wave С of Н12-Daily level will continue by authors figure that continues the trend of Elder’s Baskerville Hound/MF. In such case the closest resistance will be provided by levels 1.0141 and 1.0105. Bearish trend will be over and previous bullish wave will continue only when the upper line of the flat 1.0353, sloping channel MF, and the successive FZR are broken.
