USD/CAD Fundamental Analysis August 20, 2012, Forecast

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Analysis and Recommendations:

The USD/CAD is trading at 0.9896 as the USD gained 0.0030 in the morning session. Canadian CPI disappointed markets today, but had little effect on the currency. The US data surprised traders with Michigan Consumer Sentiment coming in better the forecast, helping to give the US a boost before the weekend.

There is little action in the markets and light trading. This coming week will bring us some eco data from Canada which might paint a better picture, but even next week markets are not expecting much action.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data August 17, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

EUR

 

 

 

German PPI (MoM) 

0.0%

 

0.4% 

 

-0.4% 

 

 

EUR

 

 

 

German PPI (YoY) 

0.9%

 

1.3% 

 

1.6% 

 

 

EUR

 

 

 

Current Account 

12.7B

 

11.1B 

 

10.3B 

 

 

EUR

 

 

 

Trade Balance 

10.5B

 

5.4B 

 

6.8B 

 

 

CAD

 

 

 

Core CPI (MoM) 

-0.1%

 

0.2% 

 

-0.4% 

 

 

CAD

 

 

 

CPI (MoM) 

-0.1%

 

0.2% 

 

-0.4% 

 

 

CAD

 

 

 

CPI (YoY) 

1.3%

 

2.0% 

 

1.5% 

 

 

USD

 

 

 

Michigan Consumer Sentiment 

73.6

 

72.4 

 

72.3 

 

 

USD

 

 

 

Michigan Inflation Expectations 

3.6%

 

 

 

3.0% 

 

 

 

 

 

 

 

 

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

Event 

Previous

Aug 21

12:30

CAD

Wholesale Sales m/m

0.9%

Aug 22

12:30

CAD

Core Retail Sales m/m

0.5%

 

12:30

CAD

Retail Sales m/m

0.3%

 

14:00

USD

Existing Home Sales

4.37M

 

14:30

USD

Crude Oil Inventories

-3.7M

 

18:00

USD

FOMC Meeting Minutes

 

 

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About: FX Empire Analyst - Barry Norman

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