USD/CAD Fundamental Analysis July 12, 2012, Forecast

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By FX Empire Analyst - Barry Norman
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Analysis and Recommendations:

The USD/CAD is trading at 1.0198 in early morning US trading.  Canada’s trade deficit grew a small bit in May, as exports were relatively unchanged from the previous month and imports increased 0.4%. Statistics Canada said that Canada’ trade deficit widened to CAD 0.8 billion in May, compared to expectations for a deficit of CAD1.0 billion.

The U.S. trade deficit narrowed in line with market expectations in May, as exports inched up 0.2% and imports fell 0.7%. The U.S. Bureau of Economic Analysis said that the U.S. trade deficit narrowed to a seasonally adjusted USD48.7 billion in May from deficit of USD50.6 billion in April.

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 July 11, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 11

 

AUD

 

 

 

RBA Assist Gov Lowe Speaks 

 

 

 

 

 

 

 

 

 

KRW

 

 

 

South Korean Unemployment Rate 

3.2%

 

3.2% 

 

3.2% 

 

 

 

 

JPY

 

 

 

Tertiary Industry Activity Index (MoM) 

0.7%

 

0.2% 

 

-0.2% 

   

 

 

AUD

 

 

 

Westpac Consumer Sentiment 

3.70%

 

 

 

0.30% 

 

 

 

 

AUD

 

 

 

Home Loans (MoM) 

-1.2%

 

0.7% 

 

0.5% 

   

 

 

EUR

 

 

 

German CPI (MoM) 

-0.1%

 

-0.1% 

 

-0.1% 

 

 

 

 

EUR

 

 

 

German CPI (YoY) 

1.7%

 

1.7% 

 

1.7% 

 

 

 

 

EUR

 

 

 

German 10-Year Bund Auction 

1.310%

 

 

 

1.520% 

 

 

 

 

CAD

 

 

 

Trade Balance 

-0.8B

 

-1.0B 

 

-0.6B 

   

 

 

USD

 

 

 

Trade Balance 

-48.7B

 

-48.5B 

 

-50.6B 

   

 

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

 Event

Previous

Jul 12

12:30

CAD

NHPI m/m

0.2%

12:30

USD

Unemployment Claims

 

12:30

USD

Import Prices m/m

-1.0%

18:00

USD

Federal Budget Balance

-124.6B

Jul 13

12:30

USD

PPI m/m

-1.0%

13:55

USD

Prelim UoM Consumer Sentiment

73.2

Government Bond Auctions

Date  Time  Country 

Jul 12  09:10  Italy

Jul 12  09:30  UK

Jul 12  15:00  US

Jul 12  17:00  US

Jul 13  09:10  Italy

Jul 13  10:00  Belgium

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