Bank of Canada Leaves Rates Unchanged

• See weaker US recovery
• Cuts 2010 growth to 3% from 3.5%
• Currency tension could hurt global economy
• 2011 growth cut to 2.3% from 2.9%
• 2012 raised to 2.6% from 2.2%
• Larger than forecast output GDP
• CPI to reach 2% by by end of 2012
• Global stimulus largely over
• Global shift to fiscal consolidation
• Any further moves to be carefully considered

The USDCAD is approaching the 50% retracement, 200 day MA and 100 day MA at 1.0324, 1.0349 and 1.0357