Analysis and Recommendations: The USD/CAD remains fairly flat in today's session trading at 0.9911 moving between small gains and losses. With positive
The USD/CAD remains fairly flat in today’s session trading at 0.9911 moving between small gains and losses. With positive data in Canada, the Looney added some momentum after Building Permits printed well above forecast. Across the border, US unemployment data printed positive today giving the greenback a bit of a bounce. Yesterday the Bank of Canada continues its current rates and monetary policy, while the US is waiting for the FOMC meet this coming week. The Canadian dollar eased from a one-month high against the greenback on Thursday to trade little changed, tracking U.S. equity futures as the progress of fiscal negotiations in Washington continues to drive direction.
Earlier in the session, the currency rallied to its strongest level since early November, extending gains made over the last two days after the Bank of Canada kept its bias towards future rate hikes at a policy meeting on Tuesday.
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 6, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 06 |
|
AUD |
|
|
Employment Change |
13.9K |
|
0.2K |
|
10.1K |
||
|
|
AUD |
|
|
Unemployment Rate |
5.2% |
|
5.5% |
|
5.4% |
|
|
|
|
CHF |
|
|
Unemployment Rate |
3.0% |
|
3.0% |
|
3.0% |
|
|
|
|
GBP |
|
|
Halifax House Price Index (MoM) |
1.0% |
|
0.2% |
|
-0.1% |
||
|
|
CHF |
|
|
CPI (MoM) |
-0.3% |
|
0.0% |
|
0.1% |
|
|
|
|
GBP |
|
|
Trade Balance |
-9.5B |
|
-8.8B |
|
-8.4B |
||
|
|
EUR |
|
|
GDP (QoQ) |
-0.1% |
|
-0.1% |
|
-0.1% |
|
|
|
|
EUR |
|
|
German Factory Orders (MoM) |
3.9% |
|
0.9% |
|
-2.4% |
||
|
|
GBP |
|
|
Interest Rate Decision |
0.50% |
|
0.50% |
|
0.50% |
|
|
|
|
GBP |
|
|
BOE QE Total |
375B |
|
375B |
|
375B |
|
|
|
|
EUR |
|
|
Interest Rate Decision |
0.75% |
|
0.75% |
|
0.75% |
|
|
|
|
CAD |
|
|
Building Permits (MoM) |
15.0% |
|
3.0% |
|
-12.7% |
||
|
|
USD |
|
|
Initial Jobless Claims |
370K |
|
380K |
|
395K |
||
|
|
EUR |
|
|
ECB Press Conference |
|
|
|
|
|
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3205K |
|
3275K |
|
3305K |
Upcoming Economic Events that affect the CAD and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 07 |
13:30 |
USD |
0.2% |
0.0% |
|
|
13:30 |
CAD |
10.0K |
1.8K |
|
|
13:30 |
CAD |
|
-0.5% |
|
|
13:30 |
USD |
90K |
171K |
|
|
13:30 |
USD |
34.4 |
34.4 |
|
|
13:30 |
USD |
90K |
184K |
|
|
14:55 |
USD |
82.1 |
82.7 |
Government Bond Auction
Date Time Country
Dec 07 16:30 Italy
Dec 10 10:10 Norway
Dec 10 10:10 Slovakia
Dec 10 15:30 UK
Dec 10 16:30 Italy
Dec 11 09:30 Spain
Dec 11 10:10 Greece
Dec 11 10:15 Austria
Dec 11 10:30 Belgium
Dec 11 10:30 UK
Dec 11 18:00 US
Dec 12 10:10 Italy
Dec 12 10:10 Sweden
Dec 12 10:30 Swiss
Dec 12 16:30 US
Dec 13 01:30 Japan
Dec 13 09:30 Spain
Dec 13 10:10 Italy
Dec 13 10:30 UK
Dec 13 16:00 US
Dec 13 18:00 US