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
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 |
-1.0B |
-0.8B |
|
13:30 |
USD |
-42.5B |
-41.6B |
||
Dec. 12 |
13:30 |
USD |
-0.5% |
0.5% |
|
|
19:00 |
USD |
-147.5B |
-120.0B |
|
Dec. 14 |
13:30 |
CAD |
|
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