Analysis and Recommendations: The USD/CAD is trading at 0.9884 as positive Canadian data balanced against positive US data. The pair declined by 30pips.
The USD/CAD is trading at 0.9884 as positive Canadian data balanced against positive US data. The pair declined by 30pips. Canadian unemployment fell from 7.4% to 7.2% while forecasts had called for a drop to 7.2% while employment skyrocketed. In the US, the nonfarm payroll rocked markets reporting well above forecast with unemployment falling to 7.7 percent. The US created 146K new jobs when forecasts ranged from 84K-93K. The US dollar soared against most of the crosses except for the CAD, where strong data is a positive for the Canadian economy.
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 December 7, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
Forecast |
Previous |
||
Dec. 07 |
|
AUD |
|
|
Trade Balance |
-2.09B |
-2.05B |
-1.42B |
||
|
|
GBP |
|
|
Industrial Production (MoM) |
-0.8% |
0.7% |
-2.1% |
||
|
|
GBP |
|
|
Manufacturing Production (MoM) |
-1.3% |
-0.2% |
0.1% |
||
|
|
GBP |
|
|
Industrial Production (YoY) |
-3.0% |
-0.6% |
-3.2% |
||
|
|
EUR |
|
|
ECB President Draghi Speaks |
|||||
|
|
EUR |
|
|
German Industrial Production (MoM) |
-2.6% |
-0.5% |
-1.3% |
||
|
|
USD |
|
|
Average Hourly Earnings (MoM) |
0.2% |
0.2% |
0.0% |
||
|
|
CAD |
|
|
Employment Change |
59.3K |
10.0K |
1.8K |
||
|
|
CAD |
|
|
Labor Productivity (QoQ) |
-0.5% |
-0.6% |
|||
|
|
USD |
|
|
Nonfarm Payrolls |
146K |
93K |
138K |
||
|
|
USD |
|
|
Unemployment Rate |
7.7% |
7.9% |
7.9% |
||
|
|
CAD |
|
|
Unemployment Rate |
7.2% |
7.0% |
7.4% |
||
|
|
USD |
|
|
Average Weekly Hours |
34.4 |
34.4 |
34.4 |
||
|
|
USD |
|
|
Private Nonfarm Payrolls |
147K |
95K |
189K |
||
|
|
USD |
|
|
Michigan Consumer Sentiment |
74.5 |
82.4 |
82.7 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
There are no top tier events schedule for Monday December 10, 2012 ahead of the FOMC two day meeting traders will be watching US lawmakers as the fiscal cliff comes closer.
Government Bond Auction
Date Time Country
Dec 10 10:10 Norway
Dec 10 10:10 Slovakia
Dec 10 15:30 UK
Dec 10 16:30 Italy
Dec 11 09:30 Spain
Dec 11 10:10 Greece
Dec 11 10:15 Austria
Dec 11 10:30 Belgium
Dec 11 10:30 UK
Dec 11 18:00 US
Dec 12 10:10 Italy
Dec 12 10:10 Sweden
Dec 12 10:30 Swiss
Dec 12 16:30 US
Dec 13 01:30 Japan
Dec 13 09:30 Spain
Dec 13 10:10 Italy
Dec 13 10:30 UK
Dec 13 16:00 US
Dec 13 18:00 US
Dec 14 11:00 Belgium
Dec 14 15:30 UK