USD/CAD Fundamental Analysis September 17, 2012, Forecast

Posted September 14, 2012 15:26 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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

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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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