USD/CAD Fundamental Analysis July 30, 2012, Forecast

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Analysis and Recommendations:

The USD/CAD is trading at 1.0075 in the early part of the day, after the release of US 2nd Q GDP. There are no economic releases in Canada today.

The US GDP showed that the economy continues to slow in the last quarter. Although the release matched expectations, those expectations were set very low.

As the Canadian economy is so dependent upon the US economy, this can be seen as a negative for the CAD.

All eyes are now focused on next week releases ahead of the FOMC meeting on Tuesday and Wednesday.

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 27, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 27

 

JPY

 

 

 

Tokyo Core CPI (YoY) 

-0.6%

 

-0.7% 

 

-0.6% 

 

 

 

 

JPY

 

 

 

Retail Sales (YoY) 

0.2%

 

1.2% 

 

3.6% 

 

 

 

 

CHF

 

 

 

KOF Leading Indicators 

1.43

 

1.25 

 

1.15 

  

 

 

SEK

 

 

 

Swedish Retail Sales (MoM) 

-0.40%

 

0.20% 

 

0.30% 

  

 

 

EUR

 

 

 

German CPI (MoM) 

0.4%

 

0.4% 

 

-0.1% 

 

 

 

 

EUR

 

 

 

German CPI (YoY) 

1.7%

 

1.7% 

 

1.7% 

 

 

 

 

USD

 

 

 

GDP (QoQ) 

1.5%

 

1.5% 

 

2.0% 

  

 

Upcoming Economic Events that affect the CAD

Date

Time

Currency

 Event

Previous

Jul 31

12:30

CAD

GDP m/m

0.3%

 

12:30

CAD

RMPI m/m

-1.0%

 

Government Bond Auctions

Date  Time  Country 

Jul 30  09:10  Italy  

Jul 30  10:00  Belgium

Jul 31  00:30  Japan

Jul 31  09:30  Belgium

Aug 01  09:30  Germany

Aug 01  10:00  Norway

Aug 01  13:00  US

Aug 02  08:30  Spain

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About:FX Empire Analyst - Barry Norman

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