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USD/CAD Fundamental Analysis – August 10, 2015 – Forecast

By:
Barry Norman
Published: Aug 7, 2015, 10:31 UTC

Analysis and Recommendations: The USD/CAD added another 7 points to trade at 1.3117 recovering after this week’s climb and then decline. The pair was

USD/CAD

usdcad friday bns
Analysis and Recommendations:

The USD/CAD added another 7 points to trade at 1.3117 recovering after this week’s climb and then decline. The pair was headed above the 1.32 line just two days ago, but with the recover in oil prices and a bit of positive economic data allowed the Looney to recover, even though it is trading near the top of its range while the US dollar continues to gain ahead of the NFP report.

Crude futures are a few dollars away from breaking 2015 lows. Brent’s bottom for the year so far is $45.19, hit in January, while US crude fell as low as $42.03 in March.

The dollar rose on Friday as traders focused on key US jobs data later in the day, with an upbeat report likely to boost hopes for a September interest rate hike.

Investors are eyeing official US payroll figures later on Friday for the latest clues about the timing of an interest rate hike, widely expected by September or December.

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:

Cur.

 

Event

Actual

Forecast

Previous

 

  AUD

 

Home Loans (MoM) (Jun)

4.4%

5.0%

-7.3%

   

  AUD

 

RBA Monetary Policy Statement 

 

 

 

 

 

  CHF

 

Unemployment Rate n.s.a. (Jul)

3.1%

3.1%

3.1%

 

 

  CHF

 

Unemployment Rate (Jul)

3.3%

3.3%

3.3%

 

 

  EUR

 

German Industrial Production (MoM)

-1.4%

0.3%

0.2%

 

 

  EUR

 

German Trade Balance (Jun)

24.0B

21.5B

19.5B

   

  JPY

 

BoJ Press Conference  

 

 

 

 

 

  GBP

 

Trade Balance (Jun)

 

-9.30B

-8.00B

 

 

  GBP

 

Trade Balance Non-EU (Jun)

 

-2.40B

-1.57B

   

USDCAD(15 minutes)20150807055736

Upcoming Economic Events that you should be monitoring:

Monday, August 10, 2015

 

Event

 

 

Previous

   

 

JPY

Eco Watchers Survey: Current (Jul)

   

51

   

JPY

Eco Watchers Survey: Outlook (Jul)

   

53.5

   

USD

Labor Market Conditions Index (Jul)

   

0.8

   

NZD

Electronic Card Retail Sales (MoM)

   

0.5%

   

NZD

Electronic Card Retail Sales (YoY)

   

5%

   

GBP

BRC Retail Sales Monitor – All (YoY)

   

1.8%

   
                       

Government Bond Auctions

Date Time Country

Aug 10 17:30 Italy Announces details of BTP/CCTeu on 13 Aug

Aug 11 11:30 UK Auctions 0.125% 2058 I/L Gilt

Aug 12 11:30 Germany Eur 4bn Aug 2025 Bund

Aug 13 11:10 Italy Auctions BTPs/CCTeus

Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz

Aug 19 11:03 Sweden Holds bond auction

Aug 20 10:30 Spain Auctions Bonos/Obligaciones

Aug 20 11:30 UK Auctions 4.25% 2036 Gilt

Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug

 

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