USD/CAD Fundamental Analysis September 14, 2012, Forecast
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Analysis and Recommendations:
The USD/CAD is starting off the day at 0.9770 with the greenback adding a few cents in early trade. There is no reason for the current weakness in the CAD, especially with oil prices moving up and the Dollar Index declining. Prices have been holding steady all night ahead of the Fed statement.
CAD underperformed for two reasons: 1) it had moved beyond fundamentals and used yesterday to retrace; 2) activity in EURCAD also pressured CAD. Today the focus is the FOMC, with domestic data releases of capacity utilization and new housing expected to have no market impact
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 13, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 13 |
|
KRW |
|
|
South Korean Interest Rate Decision |
3.00% |
|
2.75% |
|
3.00% |
|
|
|
|
|
CHF |
|
|
PPI (MoM) |
0.5% |
|
-0.4% |
|
-0.3% |
|
|
|
|
|
CHF |
|
|
Interest Rate Decision |
0.00% |
|
0.00% |
|
0.00% |
|
|
|
|
|
EUR |
|
|
ECB Monthly Report |
|
|
|
|
|
|
|
|
|
|
USD |
|
|
Core PPI (MoM) |
|
|
0.2% |
|
0.4% |
|
|
|
|
|
USD |
|
|
PPI (MoM) |
|
|
1.1% |
|
0.3% |
|
|
|
|
|
USD |
|
|
Initial Jobless Claims |
|
|
370K |
|
365K |
|
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
|
|
3318K |
|
3322K |
|
|
|
|
|
USD |
|
|
PPI (YoY) |
|
|
1.4% |
|
0.5% |
|
|
|
|
|
USD |
|
|
Core PPI (YoY) |
|
|
2.6% |
|
2.5% |
|
|
|
|
|
USD |
|
|
Interest Rate Decision |
|
|
0.25% |
|
0.25% |
Upcoming Economic Events that affect the CAD and USD
|
Sep. 14 |
13:30 |
USD |
0.2% |
0.1% |
|
|
|
13:30 |
USD |
0.6% |
0.8% |
|
|
|
13:30 |
USD |
0.5% |
0.0% |
|
|
|
13:30 |
CAD |
1.00% |
-0.40% |
|
|
|
13:30 |
USD |
0.7% |
0.8% |
|
|
|
14:15 |
USD |
0.2% |
0.6% |
|
|
|
14:55 |
USD |
74.1 |
74.3 |
Government Bond Auction
Date Time Country
Sep 14 10:00 Belgium
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