USD/CAD Fundamental Analysis September 11, 2012, Forecast

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Analysis and Recommendations:

The USD/CAD is trading at 0.9779 dipping a bit as the US drifted lower and the hopes of additional stimulus become more likely. Although the CAD is being weighed down by the long list of negative eco data release from China over the weekend. (see below)

There has been little in the way of news or data from Canada, except a positive jobs report at the end of the week helped support the Looney.

Let’s face it markets are glues to the USD on hopes of Fed stimulus come the 13th and little else is going to affect markets this week, except EU problems, which will not necessarily hit this pair.

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 September 10, 2012 actual v. forecast

Date

Time

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Sep. 10

00:50

 

JPY

 

 

Adjusted Current Account 

0.34T

 

0.39T 

 

0.77T 

 

00:50

 

JPY

 

 

GDP (QoQ) 

0.2%

 

0.3% 

 

0.3% 

 

00:50

 

JPY

 

 

GDP Price Index (YoY) 

-0.9%

 

-1.1% 

 

-1.1% 

 

00:50

 

JPY

 

 

Bank Lending (YoY) 

0.9%

 

 

 

0.7% 

 

02:00

 

CNY

 

 

Chinese Trade Balance 

26.66B

 

19.80B 

 

25.10B 

 

02:00

 

CNY

 

 

Chinese Exports (YoY) 

2.70%

 

3.00% 

 

1.00% 

 

02:30

 

AUD

 

 

Home Loans (MoM) 

-1.0%

 

0.1% 

 

1.0% 

 

Chinese Economic Data released on September 9, 2012 actual v. forecast (this is important)

Sep. 09

02:30

 

CNY

 

 

Chinese CPI (YoY) 

2.0%

 

2.0% 

 

1.8% 

 

 

 

02:30

 

CNY

 

 

Chinese PPI (YoY) 

-3.5%

 

-3.3% 

 

-2.9% 

 

 

 

02:30

 

CNY

 

 

Chinese CPI (MoM) 

0.6%

 

0.5% 

 

0.1% 

 

 

 

06:30

 

CNY

 

 

Chinese Fixed Asset Investment (YoY) 

20.2%

 

20.4% 

 

20.4% 

 

 

 

06:30

 

CNY

 

 

Chinese Industrial Production (YoY) 

8.9%

 

9.1% 

 

9.2% 

 

 

 

06:30

 

CNY

 

 

Chinese Retail Sales (YoY) 

13.2%

 

13.2% 

 

13.1% 

 

 

 

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

Event

Forecast

Previous

 Sep. 11

13:15

CAD

Housing Starts 

200.0K

208.5K

 

13:30

CAD

Trade Balance 

-1.0B

-1.8B

 

13:30

USD

Trade Balance 

-44.2B

-42.9B

Government Bond Auction

Date Time Country 

Sep 11 00:30 Japan 

Sep 11 08:30 Holland 

Sep 11 09:10 Greece 

Sep 11 09:30 UK 

Sep 11 14:30 UK 

Sep 11 17:00 US 

Sep 12 09:10 Italy  

Sep 12 09:10 Sweden 

Sep 12 09:30 Germany 

Sep 12 09:30 Swiss 

Sep 12 14:30 Sweden 

Sep 12 17:00 US 

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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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