USD/CAD Fundamental Analysis August 28, 2012, Forecast
Add a comment
Fundamental Reports
To learn more click here
Analysis and Recommendations:
The USD/CAD is trading at 0.9898 slightly down on a very quiet trading day. There has been little activity in Europe or Asia, little eco data and little news as holiday vacations wind down and the UK is closed for a bank holiday and the US prepares for its annual Labor Day event.
Monday started off with a stronger Canadian Dollar, following the rise in Commodity prices, pushing the USD/CAD to support at 0.9900 psychological levels. Some market volatility was seen ahead and after Fed’s Evans dovish speech, but the pair remains subdued at 0.9900 ground.
The Chicago Federal Reserve Bank President Evans gave a very dovish speech in Hong Kong, stating the US central bank should immediately launch a new round of stimulus, through bond buying, until the jobless rate declines steadily.
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 27, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
Aug. 27 |
|
SEK |
|
|
Swedish Retail Sales (MoM) |
0.30% |
|
0.20% |
|
-0.30% |
|||
|
|
|
EUR |
|
|
German Ifo Business Climate Index |
102.3 |
|
102.6 |
|
103.2 |
|||
|
|
|
EUR |
|
|
German Current Assessment |
111.2 |
|
110.8 |
|
111.5 |
|||
|
|
|
EUR |
|
|
German Business Expectations |
94.2 |
|
95.0 |
|
95.5 |
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug. 28 |
15:00 |
USD |
65.9 |
|
|
Aug. 30 |
13:30 |
CAD |
-10.3B |
|
|
Aug. 31 |
13:30 |
CAD |
0.1% |
Government Bond Auctions
Date Time Country
28/8 10:30 Spain
28/8 11:00 Italy
28/8 19:00 US
29/8 11:00 Italy
29/8 19:00 US
30/8 05:35 Japan
30/8 11:00 Italy
30/8 19:00 US
EUR/USD Forecast May 22, 2013, Technical Analysis
GBP/USD Forecast May 22, 2013, Technical Analysis
Gold Prices May 22nd, 2013, Technical
USD/JPY Forecast May 22, 2013, Technical Analysis
Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com
View all of FX Empire Analyst - Barry Norman's Articles
