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USD/CAD Fundamental Analysis December 24, 2012 Forecast

By:
Barry Norman
Updated: Aug 21, 2015, 01:00 UTC

Analysis and Recommendations: The USD/CAD added 48pts to trade at 0.9925. The Looney continued to trade weakly after Core CPI fell below expectations and

USD/CAD Fundamental Analysis December 24, 2012 Forecast

USD/CAD Fundamental Analysis December 24, 2012 Forecast
USD/CAD Fundamental Analysis December 24, 2012 Forecast
Analysis and Recommendations:

The USD/CAD added 48pts to trade at 0.9925. The Looney continued to trade weakly after Core CPI fell below expectations and GDP printed at forecast. The US dollar has gained since late evening on Thursday on positive eco data and safe haven trades as market sentiment turned negative and risk aversion became the word of the day. Traders dumped commodities and currencies along with equities after the US fiscal cliff negotiations broke down. Markets are now looking at the effects of having no deal in the US.

Canada and CAD remain highly vulnerable to fiscal cliff developments.

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 21, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 21

 

JPY

 

 

BoJ Monthly Report 

 

 

 

 

 

 

 

 

 

EUR

 

 

GfK German Consumer Climate 

5.6

 

5.9 

 

5.8 

   

 

 

HUF

 

 

Hungarian Retail Sales (YoY) 

-3.70%

 

-2.60% 

 

-3.10% 

 

 

 

 

PLN

 

 

Polish Unemployment Rate 

12.90%

 

12.80% 

 

12.50% 

 

 

 

 

GBP

 

 

Business Investment (QoQ) 

3.8%

 

3.5% 

 

3.7% 

 

 

 

 

GBP

 

 

Current Account 

-12.8B

 

-14.0B 

 

-17.4B 

   

 

 

GBP

 

 

GDP (QoQ) 

0.9%

 

1.0% 

 

1.0% 

 

 

 

 

GBP

 

 

GDP (YoY) 

0.0%

 

-0.1% 

 

-0.1% 

 

 

 

 

BRL

 

 

Brazilian Unemployment Rate 

4.9%

 

5.1% 

 

5.3% 

 

 

 

 

CAD

 

 

Core CPI (MoM) 

0.0%

 

0.1% 

 

0.3% 

 

 

 

 

USD

 

 

Core Durable Goods Orders

1.6%

 

-0.2% 

 

1.9% 

   

 

 

USD

 

 

Core PCE Price Index (MoM) 

0.0%

 

0.1% 

 

0.1% 

 

 

 

 

CAD

 

 

CPI (MoM) 

-0.2%

 

-0.1% 

 

0.2% 

 

 

 

 

USD

 

 

Durable Goods Orders (MoM) 

0.7%

 

0.2% 

 

1.1% 

   

 

 

CAD

 

 

GDP (MoM) 

0.1%

 

0.1% 

 

0.0% 

 

 

 

 

USD

 

 

Personal Spending (MoM) 

0.4%

 

0.3% 

 

-0.1% 

   

 

 

CAD

 

 

CPI (YoY) 

0.8%

 

1.0% 

 

1.2% 

   

 

Upcoming Economic Events that affect the CHF, EUR, GBP CAD and USD

There are no eco events on the calendar for Monday, December 24 and markets will be closed on Tuesday December 25th. Traders and politicians are expected to be out of their offices for the season with low volume and low volatility. The only global issue is the US fiscal deadline. I would like to wish all of my readers a safe and healthy holiday season and all the best in the new year.

Government Bond Auction

Date Time Country 

Dec 21 16:30 Italy  

Dec 26 01:30 Japan 

Dec 27 10:10 Italy  

Dec 28 10:10 Italy  

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