Forex Analytics of LiteForex of 15.11.10: CAD: canadian dollar tries to rebound on Monday

At the Forex currency market the Canadian Dollar rate is going up slightly at the Forex currency market at the beginning of the week after two days of
sharp fall; growing oil prices provide support to the CAD today. However external background can bring to naught   all currency's attempts to grow.
 

Forex forecast: MACD indicator is in the positive area for the pair USD/CAD and it continues to grow, giving a pair buy signal. Stochastic Oscillator is
not giving a clear signal, being in the overbought zone.

Forex recommendations: it is possible that bulls will be back to the pair's trading amid the current external background and as a result buyers' targets
will become the levels of 1.0180 and 1.0220. It is also probable that consolidation of the pair will take place close to current levels.
 

Prime Minister of Canada Mr. Harper noted yesterday in a press interview that G20 summit of the "Big 20" leaders did not resolve thorny problems,
confining once again to the theoretical statements; however the politician drew attention to some progress in the discussions.
In his opinion it is not easy to resolve imbalance problems of the currency market at one go, nevertheless, as a result of G20, further trend on this
matter was determined.

The head of the Bank of Canada Mr. Carney noted earlier that economy needs regulation system reforms, as the risk of collapse of the financial
institutions "which are too large to become bankrupt"' is still too high at the moment.

He also stressed that the banks themselves should comply with market discipline and currencies' rates should reflect the fundamentals. According
to Carney increasing tension at the currency market bears risks for Canada itself. Interest rate in Canada is at the level of 1% per annum. The last
increase took place in September this year (+25 basis points).

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