USD/CAD Fundamental Analysis October 11, 2012 Forecast

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USD/CAD Fundamental Analysis October 11, 2012 Forecast

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

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