Analysis and Recommendations: The USD/CAD is trading at 0.9932 dipping 20 pips today after the Bank of Canada held rates as expected, trading within its
The USD/CAD is trading at 0.9932 dipping 20 pips today after the Bank of Canada held rates as expected, trading within its tight 56 point seven session range. A sustained tight range reflects indecision in the market as USDCAD traders wait for a catalyst that will provide enough conviction for a breakout. The Looney gained today on worries about the US fiscal cliff as lawmakers continue to bicker and argue.
Traders are adding risk to portfolios, putting some upward pressure equities and weighing on the USD. The themes in markets are unchanged from yesterday and include upcoming central bank meetings, fiscal cliff negotiations and the outlook for global growth.
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 4, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
Forecast |
Previous |
|
|
||
Dec. 04 |
|
AUD |
|
|
Building Approvals (MoM) |
-7.6% |
-2.0% |
9.5% |
||||
|
|
AUD |
|
|
Current Account |
-14.9B |
-14.8B |
-12.4B |
||||
|
|
AUD |
|
|
Interest Rate Decision |
3.00% |
3.00% |
3.25% |
|
|||
|
|
AUD |
|
|
RBA Rate Statement |
|
||||||
|
|
EUR |
|
|
Spanish Unemployment Change |
74.30K |
90.50K |
128.20K |
|
|||
|
|
BRL |
|
|
Brazilian Industrial Production (YoY) |
2.3% |
2.5% |
-3.6% |
||||
|
|
CAD |
|
|
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
Upcoming Economic Events that affect the CAD and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 05 |
13:15 |
USD |
125K |
158K |
|
13:30 |
USD |
2.7% |
1.9% |
||
13:30 |
USD |
-0.9% |
-0.1% |
||
15:00 |
USD |
53.5 |
54.2 |
||
Dec. 06 |
13:30 |
CAD |
3.0% |
-13.2% |
|
15:00 |
CAD |
59.0 |
58.3 |
||
Dec. 07 |
13:30 |
CAD |
10.0K |
1.8K |
|
13:30 |
CAD |
|
-0.5% |
Government Bond Auction
Date Time Country
Dec 05 09:30 Spain
Dec 05 10:30 Germany
Dec 05 11:00 Norway
Dec 05 15:30 Sweden
Dec 06 01:30 Japan
Dec 06 09:50 France
Dec 06 16:00 US
Dec 07 16:30 Italy