USD/CAD Fundamental Analysis December 18, 2012, Forecast

Analysis and Recommendations:

The USD/CAD saw the US dollar dip against the Canadian Looney after Foreign Securities Purchased reported well above forecast in Canada, which continues to capitalize on its AAA rating. While the NY Empire State Mfg. Index fell well under forecast and Net Long Term Transactions declined also. There is no clear catalyst for the weakness, suggesting it is instead driven by an underlying flow and likely to fade. The most important Canadian domestic data comes late in the week with Thursday’s release of retail sales and Friday’s GDP. Today’s international securities transactions is important as it highlights the CAD positive trend of a global interest to buy C$-denominated triple-A rated assets

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 17, 2012 actual v. forecast

 

Upcoming Economic Events that affect the CAD and USD

Government Bond Auction

Date Time Country 

Dec 18 01:30 Japan 

Dec 18 09:30 Spain 

Dec 18 10:10 Greece 

Dec 18 18:00 US 

Dec 19 18:00 US 

Dec 20 10:30 UK 

Dec 20 16:30 Italy  

Dec 20 18:00 US 

Dec 21 16:30 Italy