Analysis and Recommendations: The USD/CAD added 19 points as the greenback continued to trade stronger today after traders sold off to book profits ahead
The USD/CAD added 19 points as the greenback continued to trade stronger today after traders sold off to book profits ahead of the holiday. The CAD is at 1.3308. he Canadian stock market is trading modestly to the upside Wednesday morning, adding to the modest gains of the previous session. However, weakness in commodity prices is hampering the market this morning. Gold and energy stocks are under pressure in early trade, which is limiting the market’s upside.
The USD/CAD was mostly flat as the strong U.S. economic data was cancelled by the surge in oil prices. The pair is trading at 1.3304 and is trading in a tight range ahead of the Thanksgiving holiday in the States.
The U.S. jobless claims posted today instead of Thursday to account for the holiday came in lower at 260,000. Durable goods orders in America beat expectations with non-military capital goods rising 1.3 percent in October. The data is signaling a strong close to the fourth quarter in the United States ahead of the December 16 Federal Reserve interest rate hike decision.
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.
Today’s economic releases:
Cur. |
Event |
Actual |
Forecast |
Previous |
|
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|
United States – Thanksgiving Day |
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NZD |
Trade Balance (MoM) (Oct) |
-963M |
-937M |
-1,222M |
|
||
NZD |
Trade Balance (YoY) (Oct) |
-3,240M |
-3,370M |
-3,200M |
|
||
AUD |
Private New Capital Expenditure |
-9.2% |
-3.0% |
-4.4% |
|||
EUR |
GfK German Consumer Climate |
|
9.2 |
9.4 |
Upcoming Economic Events that you should be monitoring:
Friday, November 27, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
|
||
|
United States – Day following Thanksgiving – Early close at 13:30 |
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JPY |
Household Spending (MoM) (Oct) |
|
1.1% |
-1.3% |
|
||
JPY |
Household Spending (YoY) (Oct) |
|
0.1% |
-0.4% |
|
||
JPY |
Jobs/applications ratio (Oct) |
|
1.24 |
1.24 |
|
||
JPY |
National Core CPI (YoY) (Oct) |
|
-0.1% |
-0.1% |
|
||
JPY |
Tokyo Core CPI (YoY) (Nov) |
|
-0.1% |
-0.2% |
|
||
GBP |
Nationwide HPI (MoM) (Nov) |
|
0.5% |
0.6% |
|
||
GBP |
Nationwide HPI (YoY) (Nov) |
|
4.2% |
3.9% |
|
||
GBP |
Business Investment (QoQ) (Q3) |
|
1.5% |
1.6% |
|
||
GBP |
GDP (YoY) (Q3) |
|
2.3% |
2.3% |
|
||
GBP |
GDP (QoQ) (Q3) |
|
0.5% |
0.5% |
Government Bond Auctions
Date Time Country
Nov 26 11:03 Sweden Sek 5bn 1% Nov 2026 bond exchange
Nov 27 11:03 Sweden 1.5% Nov 2023 bond exchange, 1% Nov 2026 bond exchange
Nov 27 11:10 Italy Auctions BTPs
Nov 27 N/A Spain Announces details of 03 Dec
Nov 30 11:03 Sweden Holds bond auction
Dec 01 11:30 UK 1.5% 2021 Gilt auction
Dec 02 16:30 Sweden Announces details of Bond on 11 Dec
Dec 03 10:30 Spain Auctions
Dec 03 10:50 France Auctions OATs
Dec 03 11:03 Sweden Holds I/L bond auction
Dec 04 11:03 Sweden Holds I/L bond auction