USD/CAD Fundamental Analysis July 25, 2012, Forecast

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendations:

The USD/CAD is trading at 1.0168 as the CAD gained some momentum against a strong USD. Retail sales in Canada today reported above expectations, while CORE sales were well over expectations overall sales were down.

With yesterday’s downgrade to negative watch for Germany, and several other EU nations, Canada is one of the few governments that still maintains a AAA rating, which is very supportive for the currency.

The USD remained strong today as investors continued to flee the eurozone, as the euro tumbled to record lows against many trading partners around the globe.

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 24, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 24

 

CNY

 

 

 

Chinese HSBC Manufacturing PMI 

49.50

 

 

 

48.20 

 

 

 

 

AUD

 

 

 

RBA Governor Stevens Speaks 

 

 

 

 

 

 

 

 

 

EUR

 

 

 

French Manufacturing PMI 

43.6

 

45.5 

 

45.2 

 

 

 

 

HUF

 

 

 

Hungarian Retail Sales (YoY) 

-2.50%

 

-2.00% 

 

-2.80% 

  

 

 

EUR

 

 

 

German Manufacturing PMI 

43.3

 

45.3 

 

45.0 

 

 

 

 

EUR

 

 

 

Manufacturing PMI 

44.1

 

45.3 

 

45.1 

 

 

 

 

GBP

 

 

 

BBA Mortgage Approvals 

26.3K

 

31.4K 

 

29.6K 

  

 

 

CAD

 

 

 

Core Retail Sales (MoM) 

0.5%

 

0.2% 

 

-0.4% 

  

 

 

CAD

 

 

 

Retail Sales (MoM) 

0.3%

 

0.5% 

 

-0.6% 

  

 

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

 Event

Previous

Jul 25

14:00

USD

New Home Sales

369K

14:30

USD

Crude Oil Inventories

 

Jul 26

12:30

USD

Core Durable Goods Orders m/m

0.7%

12:30

USD

Unemployment Claims

 

14:00

USD

Pending Home Sales m/m

5.9%

Jul 27

12:30

USD

Advance GDP q/q

1.9%

13:55

USD

Revised UoM Consumer Sentiment

72.0

Government Bond Auctions

Date  Time  Country 

Jul 25  09:30  Germany

Jul 25  15:30  Italy

Jul 25  17:00  US

Jul 26  00:30  Japan

Jul 26  09:10  Italy

Jul 27  09:10  Italy

Jul 27  17:00  US 

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
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

  View all of FX Empire Analyst - Barry Norman's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.