USD/CAD Fundamental Analysis October 25, 2012 Forecast

Posted October 24, 2012 15:50 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The USD/CAD is trading at 0.991, the Loonie strengthened against its U.S. counterpart boosted by a hawkish statement from the Bank of Canada on Tuesday that stands in stark contrast to most other developed economies. The central bank was expected to set the currency’s direction for a second straight session, with Bank of Canada Governor Mark Carney holding a news conference following the release of its Monetary Policy Report later on Wednesday. Traders will study the report and Carney’s comments for clues on how the bank will balance its desire to eventually withdraw stimulus and discourage excessive household debt with global economic headwinds.

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 24, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 24	AUD	CPI (QoQ)	1.4%	1.1%	0.5%
	AUD	Trimmed Mean CPI (QoQ)	0.7%	0.6%	0.5%
	CNY	Chinese HSBC Manufacturing PMI	49.10		47.90
	EUR	French Manufacturing PMI	43.5	44.0	42.7
	EUR	German Manufacturing PMI	45.7	48.0	47.4
	EUR	German Ifo Business Climate Index	100.0	101.5	101.4
	EUR	Manufacturing PMI	45.3	46.6	46.1
	EUR	German Current Assessment	107.3	109.8	110.3
	EUR	German Business Expectations	93.2	93.7	93.2
	ZAR	South African CPI (MoM)	0.90%	0.60%	0.20%
	EUR	German 10-Year Bund Auction	1.560%		1.520%
	GBP	CBI Industrial Trends Orders	-23	-6	-8
	USD	New Home Sales	389K	385K	373K

Upcoming Economic Events that affect the CAD and USD

Date	Time	Currency	Event	Forecast	Previous
Oct. 25	13:30	USD	Core Durable Goods Orders (MoM)	0.8%	-1.6%
	13:30	USD	Durable Goods Orders (MoM)	7.1%	-13.2%
	13:30	USD	Initial Jobless Claims	370K	388K
	13:30	USD	Continuing Jobless Claims	3255K	3252K
	15:00	USD	Pending Home Sales (MoM)	2.1%	-2.6%

Government Bond Auction

Date Time Country

Oct 25 00:30 Japan

Oct 25 09:10 Sweden

Oct 25 15:30 Italy

Oct 25 17:00 US

Oct 26 09:10 Italy

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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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