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
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 |
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