Analysis and Recommendations: The USD/CAD is trading at 0.9928 dipping 0.004 pips, but mostly flat today following the flow of the global markets. The
The USD/CAD is trading at 0.9928 dipping 0.004 pips, but mostly flat today following the flow of the global markets. The Canadian dollar is essentially unchanged against the U.S. dollar but is drifting lower against some European currencies as the impasse in talks over the “fiscal cliff” in the U.S. foments concern about the potential damage to the North American economy.
“The CAD is little changed against the USD but has lost ground on the crosses (marginal new cycle high in EUR/CAD) — reflecting concern that slower U.S. growth momentum if the Washington slides off the fiscal cliff will translate into slower growth in Canada. The “fiscal cliff” is a series of tax hikes and spending cuts that will come into effect on Jan. 1 if U.S. lawmakers are unable to come to a budgetary agreement in the meantime. There is no news or eco data due on either side of the border and Canada will remained shuttered on Thursday for boxing day.
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 24, 2012 actual v. forecast
There were no top tier economic events on Monday as global markets closed early for the Christmas holiday. Japanese markets are closed all day for a regional holiday.
Upcoming Economic Events that affect the CHF, EUR, GBP, CAD and USD
Global markets are closed for the Christmas Holiday; many will reopen on Wednesday while some countries are out for additional days. There is no eco data on the calendar for December 25th. We will not print any fundamental analysis on Christmas day and will return on December 26th. I would like to wish all of my readers an enjoyable holiday season.
Government Bond Auction
Date Time Country
Dec 26 01:30 Japan
Dec 27 10:10 Italy
Dec 28 10:10 Italy