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USD/CAD Fundamental Analysis June 11, 2012, Forecast
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Analysis and Recommendations: The USD/CAD saw the CAD becoming weaker today on back to back below forecast eco data. Housing starts were reported below
Analysis and Recommendations:
The USD/CAD saw the CAD becoming weaker today on back to back below forecast eco data. Housing starts were reported below forecast at 211.4k, while employment change was expected in at 10K but only reported at 7.7k. The Canadian trade balance comes in under forecast also, which can be in part due to the drop in crude oil prices. The trade balance was expected at -0.1B and the actual was -0.4B. Overall it has been a nasty day for Canada. The only bright spot is that this might push the BoC to take a more aggressive stance.
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 June 8, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
Jun. 08 |
|
JPY |
|
|
Adjusted Current Account |
0.29T |
|
0.62T |
|
0.79T |
|
||
|
|
|
JPY |
|
|
GDP (QoQ) |
1.2% |
|
1.1% |
|
1.0% |
|
||
|
|
|
AUD |
|
|
Home Loans (MoM) |
0.2% |
|
0.1% |
|
0.8% |
|||
|
|
|
AUD |
|
|
Trade Balance |
-0.20B |
|
-0.90B |
|
-1.28B |
|||
|
|
|
AUD |
|
|
RBA Governor Stevens Speaks |
|
|
|
|
|
|
||
|
|
|
GBP |
|
|
PPI Input (MoM) |
-2.5% |
|
-1.3% |
|
-1.4% |
|||
|
|
|
GBP |
|
|
PPI Input (YoY) |
0.1% |
|
1.3% |
|
1.0% |
|||
|
|
|
CAD |
|
|
Housing Starts |
211.4K |
|
212.0K |
|
243.8K |
|||
|
|
|
CAD |
|
|
Employment Change |
7.7K |
|
10.0K |
|
58.2K |
|
||
|
|
|
CAD |
|
|
Labor Productivity (QoQ) |
0.1% |
|
0.3% |
|
0.7% |
|
||
|
|
|
CAD |
|
|
Trade Balance |
-0.4B |
|
-0.1B |
|
0.2B |
|||
|
|
|
USD |
|
|
Trade Balance |
-50.1B |
|
-49.5B |
|
-52.6B |
|||
|
|
|
CAD |
|
|
Unemployment Rate |
7.3% |
|
7.0% |
|
7.3% |
|
Upcoming Economic Events that affect the CAD and USD
|
Date |
Currency |
Event |
Previous |
|
|
Jun 12 |
12:30 |
USD |
-0.5% |
|
|
18:00 |
USD |
59.1B |
||
|
Jun 13 |
12:30 |
USD |
-0.2% |
|
|
12:30 |
USD |
0.1% |
||
|
14:00 |
USD |
0.3% |
||
|
14:30 |
USD |
-0.1M |
||
|
12:30 |
CAD |
0.3% |
||
|
Jun 14 |
12:30 |
USD |
377K |
|
|
12:30 |
USD |
0.0% |
||
|
12:30 |
USD |
-124B |
||
|
12:30 |
CAD |
1.9% |
||
|
Jun 15 |
12:30 |
USD |
17.1 |
|
|
13:00 |
USD |
36.2B |
||
|
13:15 |
USD |
79.2% |
||
|
13:15 |
USD |
1.1% |
||
|
13:55 |
USD |
79.3 |
Government Bond Auctions
Date Time Country
Jun 11 09:10 Norway
Jun 11 09:10 Slovakia
Jun 11 09:30 Germany
Jun 11 15:30 Italy
Jun 12 08:30 Holland
Jun 12 09:15 Austria
Jun 12 09:30 Belgium
Jun 12 09:30 UK
Jun 12 14:30 UK
Jun 12 17:00 US
Jun 13 09:10 Italy
Jun 13 09:30 Germany
Jun 13 09:30 Swiss
Jun 13 17:00 US
Jun 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
About the Author
Barry Normanauthor
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