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USD/CAD Fundamental Analysis December 11, 2012, Forecast

By:
Barry Norman
Updated: Aug 21, 2015, 00:00 UTC

Analysis and Recommendations: The USD/CAD is trading at 0.9876 down by 10cents. Poor housing data release in Canada today weighed on the Looney, but the

USD/CAD Fundamental Analysis December 11, 2012, Forecast
USD/CAD Fundamental Analysis December 11, 2012, Forecast
USD/CAD Fundamental Analysis December 11, 2012, Forecast

Analysis and Recommendations:

The USD/CAD is trading at 0.9876 down by 10cents. Poor housing data release in Canada today weighed on the Looney, but the CAD has been strong since the positive jobs data report in the US and Canada last week. It seems that Canada is having a more positive reaction to the US jobs data then the US dollar.

This is a relatively strong performance considering Friday’s decision by the Canadian government to approve both the Cnooc/Nexen and the Petronas/Progress deals (near-term CAD positive); however on a go forward basis the government has said that future acquisition attempts of Canadian oil sands properties by SOEs (state owned enterprise) will only be found to be of a net benefit to Canada on an exceptional basis.

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 9, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 09

 

CNY

 

 

Chinese CPI (YoY) 

2.0%

 

2.1% 

 

1.7% 

 

 

 

 

CNY

 

 

Chinese PPI (YoY) 

-2.2%

 

-2.0% 

 

-2.8% 

 

 

 

 

CNY

 

 

Chinese CPI (MoM) 

0.1%

 

0.2% 

 

-0.1% 

 

 

 

 

CNY

 

 

Chinese Fixed Asset Investment (YoY) 

20.7%

 

20.8% 

 

20.7% 

 

 

 

 

CNY

 

 

Chinese Industrial Production (YoY) 

10.1%

 

9.8% 

 

9.6% 

 

 

 

 

CNY

 

 

Chinese Retail Sales (YoY) 

14.9%

 

14.6% 

 

14.5% 

   

Economic Data December 10, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 10

 

AUD

 

 

Home Loans (MoM) 

0.1%

 

3.0% 

 

1.1% 

   

 

 

CNY

 

 

Chinese Trade Balance 

19.60B

 

25.70B 

 

32.00B 

 

 

 

 

DKK

 

 

Danish CPI (YoY) 

2.30%

 

 

 

2.30% 

 

 

 

 

NOK

 

 

Norwegian Core Inflation (MoM) 

0.00%

 

0.10% 

 

0.00% 

 

 

 

 

NOK

 

 

Norwegian CPI (MoM) 

0.10%

 

0.10% 

 

0.50% 

 

 

 

 

CAD

 

 

Housing Starts 

 

 

201.0K 

 

204.1K 

 

 

 

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

Event

Forecast

Previous

 Dec. 11

13:30

CAD

Trade Balance 

-1.0B 

-0.8B 

 

13:30

USD

Trade Balance 

-42.5B 

-41.6B 

 Dec. 12

13:30

USD

Import Price Index (MoM) 

-0.5% 

0.5% 

 

19:00

USD

Federal Budget Balance 

-147.5B 

-120.0B 

Dec. 14 

13:30

CAD

Manufacturing Sales (MoM) 

 

0.40% 

Government Bond Auction

Date Time Country 

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 

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