USD/CAD Fundamental Analysis December 28, 2012, Forecast

Analysis and Recommendations:

The USD/CAD is trading at 0.9926 as the CAD gained some momentum today on disappointing US eco data. Jobless numbers and Housing sales disappointed coming in slightly below expectations but were overall market neutral. CAD is strong, up 0.3% vs the USD and in line with most of the majors as the focus remains on US fiscal negotiations. Resistance for USDCAD continues to be seen at the 50 day MA (0.9939), and the absence of domestic data will leave movement driven by broader market sentiment. Both oil prices and equity futures are flat.

There is little in the way of eco news or data that will support either currency, so markets remain focused on US lawmakers and will react accordingly as the press will fill the headlines later today.

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 27, 2012 actual v. forecast

 

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

 

Upcoming Economic Events that affect the CAD and USD

Government Bond Auction

Date Time Country

None Scheduled Until 2013