More and more experts say that Canada’s budget deficit is going to expand this financial year. The thing is that Canada is rather dependent on oil exports, which is why the current situation in the international market of crude oil with ultra oil prices cannot but widen the deficit.
To be more specific, the budget deficit in the 20016-2017 financial year is expected to widen all the way up to 29,4 billion CAD. This is what the Canadian Department of Finance thinks on the matter. It should be noted that the budget deficit expectations are now much higher than the 18,4-billion prediction made in late 2015. For those of you who don’t know, the new financial year starts on April, 1st. The Canadian Minister of Finance says that the revision of the forecast has everything to do with unstable oil prices as well as changing oil forecasts.
FOREX
In the meantime, Masterforex-V Academy reports that the Canadian Dollar is losing its value against the U.S. Dollar within the scope of a retracement the same long-term rally, which H4. The price is making wave a(C )/C inside the move. The closest levels of resistance are 1.3270, 1.3302, and 1.3404. A break below the bottom of the ascending MF sloping channel and MF pivot 1.3045 will indicate the completion of the current price wave.
