USD/CAD Fundamental Analysis December 26, 2014 Forecast

Analysis and Recommendations:

The USD/CAD is trading at 1.1611 as the CAD falls to its lowest point and is likely to close out the year with an outstanding loss. The US dollar continued its strength on Wednesday giving up a few points of its dramatic rise after the release of US data on Tuesday. Crude oil prices along with gold remain in a bearish position weighing on the CAD.

A pre-Christmas rush of U.S. data due later in the day could further highlight the diverging policy outlook between the United States and most of the developed world. Among them, third-quarter gross domestic product is expected to be revised up, putting U.S. economic growth above a 4 percent annualized rate for a second straight quarter.

The dollar hovered at its highest in nearly nine years against a basket of major currencies on Wednesday after stunningly strong US economic growth spurred markets to bring forward the timing of a likely hike in interest rates.

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.

Wishing You All The Best In The New Year

Today’s economic releases actual vs. forecast:

Markets Close Early

Limited Data Today

Upcoming Economic Events that you should be monitoring:

Friday December 26, 2014 (European Markets Closed US Markets Open)

Government Bond Auction

Date Time Country Auction

Dec 24 20:00 US Auctions 7-yr Not

Dec 29 12:10 Italy BOT/CTZ auctions

Dec 30 12:10 Italy BTP/CCTeu auctions