USD/CAD Fundamental Analysis October 11, 2012 Forecast

Posted October 10, 2012 15:56 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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USD/CAD Fundamental Analysis October 11, 2012 Forecast

Analysis and Recommendations:

The USD/CAD is flat today trading at 0.9783 equal to last evenings close. Yesterday Canadian dollar fell against a majority of its most-traded peers on concern slowing Chinese growth will hurt demand for commodities such as oil and gold. The loonie fell after China car sales unexpectedly shrank for the first time in eight months while Alcoa Inc. (AA) said the nation’s slowing growth will cut global demand for aluminum. Raw materials account for about half of Canada’s export revenue. Today there is virtually no news, no data and now excitement in the markets.

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 October 10, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 10	KRW	South Korean Unemployment Rate	3.1%	3.2%	3.1%
	AUD	Westpac Consumer Sentiment	1.00%		1.60%
	KRW	South Korean M2 Money supply	9.20%		9.00%
	EUR	German WPI (MoM)	1.3%	0.5%	1.1%
	JPY	Machine Tool Orders (YoY)	-3.0%		-2.7%
	EUR	Finnish Industry Output (MoM)	-1.40%		2.00%
	EUR	French Industrial Production (MoM)	1.5%	-0.2%	0.6%

Upcoming Economic Events that affect the CAD and USD

Date	Time	Currency	Event	Forecast	Previous
Oct. 11	13:30	USD	Import Price Index (MoM)	0.7%	0.7%
	13:30	CAD	Trade Balance	-2.0B	-2.3B
	13:30	USD	Trade Balance	-44.0B	-42.0B
	13:30	USD	Initial Jobless Claims	370K	367K
	13:30	USD	Continuing Jobless Claims	3275K	3281K
	19:00	USD	Federal Budget Balance	-4.0B	-191.0B

Government Bond Auction

Date Time Country

Oct 11 09:10 Italy

Oct 11 09:10 Sweden

Oct 11 09:30 UK

Oct 11 15:00 US

Oct 11 17:00 US

Oct 12 09:30 Germany

Oct 12 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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