Markets  |  February 12, 2013 15:20:00

Canada believes in a better tomorrow

The head of the Central Bank of Canada (BoC) and the upcoming central bank chief Mark Carney Britain today at a press conference to express their opinion on domestic and global economy. Canadian GDP in 2012 likely grew less than expected and the Carneyeho predicted to reach 2 percent growth.

Commenting on the global economy risks. The greatest problem at present considered to worry about the common European currency, and the U.S. fiscal cliff, but it also praised the leaders of these economies as a way to reduce risks. BoC believes that European recession will take longer than originally expected, however, according to Carney Europe a better place to live than it was in October.

Sees a positive development of the U.S. economy despite the expected slowdown in the economy due to endless debates on the state budget. As the driving force of the U.S. economy sees housing market and new corporate investments. Canada BoC chief and under will benefit from gradually improving the state of the world's largest economy.

Currency pair USD / CAD today in the morning back to previous highs 1.0086. At this resistance failed to respond vigorously and all indications are that we will see price formation "double top." Daily chart also creates a reverse candle pinbar which, while not adequately long shadow, but it could help further sales.

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