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USD/CAD Fundamental Analysis December 13, 2012 Forecast
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Analysis and Recommendations: The USD/CAD is trading at 0.9856 dipping by 6pts as the US dollar weakens ahead of the FOMC announcement today. Markets are
Analysis and Recommendations:
The USD/CAD is trading at 0.9856 dipping by 6pts as the US dollar weakens ahead of the FOMC announcement today. Markets are expecting the Feds to launch QE4 including replacing the expiring Operation Twist by Outright Bond Purchases. Traders do not expect a sustained material impact on CADUS or other currencies stemming from today’s FOMC announcements. The theory that Fed policy is debasing the USD in favor of strength in other currencies is flawed, and the empirical evidence is non-existent event. The Canadian dollar was higher this morning as the greenback weakened ahead of expectations that the U.S. Federal Reserve will deliver more stimulus to keep America’s fragile recovery on track.
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 12, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Dec. 12 |
|
AUD |
|
|
RBA Governor Stevens Speaks |
|
|
|
|
|
|
|
|
|
|
INR |
|
|
Indian Industrial Production (YoY) |
8.2% |
|
4.5% |
|
-0.7% |
||
|
|
|
EUR |
|
|
German CPI (MoM) |
-0.1% |
|
-0.1% |
|
-0.1% |
|
|
|
|
|
EUR |
|
|
German CPI (YoY) |
1.9% |
|
1.9% |
|
1.9% |
|
|
|
|
|
EUR |
|
|
French CPI (MoM) |
-0.2% |
|
0.0% |
|
0.1% |
|
|
|
|
|
ZAR |
|
|
South African CPI (MoM) |
0.20% |
|
0.20% |
|
0.60% |
|
|
|
|
|
GBP |
|
|
Average Earnings Index +Bonus |
1.8% |
|
1.9% |
|
1.8% |
|
|
|
|
|
GBP |
|
|
Claimant Count Change |
-3.0K |
|
7.0K |
|
6.0K |
||
|
|
|
EUR |
|
|
Industrial Production (MoM) |
-1.4% |
|
0.2% |
|
-2.3% |
||
|
|
|
USD |
|
|
Import Price Index (MoM) |
-0.9% |
|
-0.5% |
|
0.3% |
||
|
|
|
MXN |
|
|
Mexican Industrial Production (YoY) |
3.6% |
|
3.6% |
|
2.3% |
||
|
|
|
USD |
|
|
Interest Rate Decision |
|
|
0.25% |
|
0.25% |
|
|
|
|
|
USD |
|
|
FOMC Statement |
|
|
|
|
|
|
|
|
|
|
USD |
|
|
10-Year Note Auction |
|
|
|
|
1.675% |
|
|
|
|
|
USD |
|
|
Federal Budget Balance |
|
|
-150.0B |
|
-120.0B |
|
|
|
|
|
USD |
|
|
Fed Chairman Bernanke Speaks |
|
|
|
|
|
|
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Dec. 14 |
13:30 |
CAD |
|
0.40% |
Government Bond Auction
Date Time Country
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
About the Author
Barry Normanauthor
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