USD/CAD Fundamental Analysis April 6, 2015 – Forecast

Analysis and Recommendations:

The USD/CAD added 6 points to trade at 1.2568 ahead of the jobs data as traders are on holiday.  Oil Canada’s prime export is set to continue on its down trend now that an agreement has been reached with Iran which will dump more oil on the markets.  The US Dollar softened versus most of its major competitors despite relatively positive labour market data. Initial Jobless Claims saw 286,000 claimants which were below the median market forecast of 285,000. Continuing Claims showed 2,325,000 people continued to claim financial aid which again was below the market consensus figure of 2,405,000. Additionally, US Trade Balance saw the deficit narrow from -$42.7 billion to -$35.4 billion.

Markets in most of Europe will remain shut on Friday and Monday for Easter holidays. The U.S. bond market will have a shortened session while the U.S. stock market will be shut on Friday.

All eyes are on the March set of US Employment in the final hours of the trading week. A 248,000 increase in nonfarm payrolls (NFP) is expected. The unemployment rate is seen holding at 5.5 percent, a figure broadly associated with “full employment” (a level such that reducing joblessness further would pressure inflation upward). A Reuter’s poll expects non-farm payrolls to rise by 245,000 jobs in March, after gaining 290,000 in February.

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.

Today’s economic releases actual vs. forecast:

Global Markets are closed for the Good Friday Holiday

US Jobs Data to be released.

Upcoming Economic Events that you should be monitoring:

Monday, April 6, 2015

Government Bond Auctions

Date Time Country

Apr 07 11:15 Austria Holds RAGB bond sale

Apr 07 19:00 US Auctions 3-yr Notes

Apr 08 11:03 Sweden Holds bond auction

Apr 08 11:30 Germany Eur 4bn Mar 2017 Schatz

Apr 08 11:30 UK Auctions 2% 2020 Gilt

Apr 08 17:30 Italy Announces details of BTP/CCTeu on 13 Apr

Apr 08 19:00 US Auctions 10-yr Notes

Apr 09 10:30 Spain Auctions Bonos

Apr 09 19:00 US Auctions 30-yr Bonds