USD/CAD Fundamental Analysis July 12, 2012, Forecast

Posted July 11, 2012 15:55 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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%

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%

EUR

German CPI (YoY)

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%
Jul 13	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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About: FX Empire Analyst - Barry Norman

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

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