USD/CAD Fundamental Analysis – August 13, 2015 – Forecast

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Published: Aug 12, 2015, 12:51 UTC

Analysis and Recommendations: The USD/CAD dipped 94 points as gold and oil rebounded supporting the Loonie. The US dollar tumbled today to trade at 96.47

USD/CAD Fundamental Analysis – August 13, 2015 – Forecast

Analysis and Recommendations:

The USD/CAD dipped 94 points as gold and oil rebounded supporting the Loonie. The US dollar tumbled today to trade at 96.47 falling 76 points as the Chinese currency situation may have an effect on the actions of the US Federal Reserve. The CAD is trading at 1.3020. China’s leaders are under growing pressure to stimulate further after producer prices in July hit their lowest point since late 2009 and exports tumbled 8.3 percent in their biggest fall in four months.

The dollar fell 0.6 per cent against a basket of currencies on Wednesday, coming under pressure as Treasury yields dropped on doubts over whether the U.S Federal Reserve will raise interest rates in the wake of China’s devaluation of the yuan.

The yuan extended its losses, dragging the growth-linked Australian and New Zealand dollars to six-year lows with it, while another set of disappointing Chinese data bolstered safe-haven currencies such as the yen.

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
USD	API Weekly Crude Oil Stock	-0.847M	-1.800M		-2.400M
JPY	Monetary Policy Meeting Minutes
AUD	Westpac Consumer Sentiment (Aug)	7.8%			-3.2%
AUD	Wage Price Index (QoQ) (Q2)	0.6%	0.6%		0.5%
JPY	Industrial Production (MoM) (Jun)	1.1%	0.8%		0.8%
JPY	Tertiary Industry Activity Index	0.3%	0.1%		-0.7%
CNY	Fixed Asset Investment (YoY) (Jul)	11.2%	11.5%		11.4%
CNY	Industrial Production (YoY) (Jul)	6.0%	6.6%		6.8%
GBP	Average Earnings Index +Bonus (Jun)	2.4%	2.8%		3.2%
GBP	Claimant Count Change (Jul)	-4.9K	1.5K		0.2K
GBP	Unemployment Rate (Jun)	5.6%	5.6%		5.6%
EUR	Industrial Production (MoM) (Jun)	-0.4%	-0.2%		-0.4%

Upcoming Economic Events that you should be monitoring:

Friday, August 14, 2015

Cur.	Event	Actual	Forecast	Previous
NZD	Core Retail Sales (QoQ)		0.7%	2.9%
EUR	German GDP (QoQ) (Q2)		0.5%	0.3%
EUR	Core CPI (YoY) (Jul)		1.0%	1.0%
EUR	CPI (MoM) (Jul)		-0.6%	0.0%
EUR	GDP (QoQ) (Q2)		0.4%	0.4%
USD	PPI (MoM) (Jul)		0.1%	0.4%
CAD	Manufacturing Sales (MoM) (Jun)		2.1%	0.1%
USD	Industrial Production (MoM) (Jul)		0.3%	0.3%
USD	Michigan Consumer Sentiment (Aug)		93.5	93.1