USD/CAD Fundamental Analysis September 17, 2012, Forecast

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendations:

The USD/CAD is trading at 0.9652 down in early morning US trading. After the Fed announced its new programs and the beginning of QE3, the US dollar weakened against all its partners. Commodity currencies around the globe were the major beneficiaries.

The CAD is strong, up a further 0.4% since yesterday’s strong close and is trading at a new 13‐month high. Over the next few weeks we expect USDCAD to trade in a range of approximately 0.95 to 0.99, with yesterday’s close of 0.9685 as the midpoint.

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 14, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Sep. 14

 

JPY

 

 

Industrial Production (MoM) 

-1.0%

 

-1.2% 

 

-1.2% 

 

 

EUR

 

 

CPI (YoY) 

2.6%

 

2.6% 

 

2.6% 

 

 

EUR

 

 

Employment Change (QoQ) 

0.0%

 

-0.2% 

 

-0.2% 

 

 

EUR

 

 

Core CPI (YoY) 

1.5%

 

1.7% 

 

1.7% 

 

 

USD

 

 

Core CPI (MoM) 

0.1%

 

0.2% 

 

0.1% 

 

 

USD

 

 

Core Retail Sales (MoM) 

0.8%

 

0.6% 

 

0.8% 

 

 

USD

 

 

CPI (MoM) 

0.6%

 

0.5% 

 

0.0% 

 

 

CAD

 

 

Manufacturing Sales (MoM) 

-1.50%

 

1.00% 

 

-0.80% 

 

 

USD

 

 

Retail Sales (MoM) 

0.9%

 

0.7% 

 

0.6% 

 

 

USD

 

 

CPI (YoY) 

1.7%

 

1.7% 

 

1.4% 

 

 

USD

 

 

Core CPI (YoY) 

1.9%

 

2.0% 

 

2.1% 

 

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

Event

Forecast

Previous

 Sep. 17

13:30

CAD

Foreign Securities Purchases 

 

-7.89B 

 

13:30

USD

NY Empire State Manufacturing Index 

-4.0 

-5.8 

Government Bond Auction

Date Time Country 

Sep 17 09:10 Slovakia

Sep 17 10:00 Norway 

Sep 18 08:30 Spain 

Sep 18 09:10 Greece 

Sep 18 09:30 Belgium 

Sep 19 09:10 Sweden 

Sep 19 09:30 Germany 

Sep 19 09:30 Portugal 

Sep 19 10:00 Norway

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
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

  View all of FX Empire Analyst - Barry Norman's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.