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USD/CAD Fundamental Analysis November 12, 2014 Forecast
By:
Analysis and Recommendations: The USD/CAD sailed higher adding 18 points to trade at 1.1398 looking to break above the 1.14 level. The US Dollar Index
Analysis and Recommendations:
The USD/CAD sailed higher adding 18 points to trade at 1.1398 looking to break above the 1.14 level. The US Dollar Index traded higher by 0.8 percent in the last week on the back of US Federal Reserve winding up of its QE tapering program in the previous week. Further, favorable economic data from the country supported an upside in the currency. However, upbeat market sentiments which led to decline in demand for the low yielding currency capped sharp gains in the DX. The dollar fell on Friday after the jobs report but regained its footing on Monday and continued to move up on Tuesday breaking above 88 while gold and oil Canadian staples lost ground against with gold plunging to 1144 and oil falling below the 76 price level.
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.
Today’s economic releases actual vs. forecast:
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Cur. |
Event |
Actual |
Forecast |
Previous |
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JPY |
Current Account |
0.41T |
0.03T |
0.13T |
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JPY |
Current Account n.s.a. |
0.963T |
0.534T |
0.287T |
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GBP |
BRC Retail Sales |
0.0% |
-0.5% |
-2.1% |
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AUD |
House Price Index |
1.5% |
1.6% |
1.9% |
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AUD |
NAB Bus. Confidence |
4 |
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5 |
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NZD |
RBNZ Gov. Wheeler |
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Upcoming Economic Events that you should be monitoring:
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Cur. |
Event |
Actual |
Forecast |
Previous |
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Wednesday, November 12, 2014 |
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AUD |
Wage Price Index (QoQ) |
|
0.6% |
0.6% |
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USD |
FOMC Kocherlakota |
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USD |
FOMC Member Plosser |
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GBP |
Average Earnings Index |
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0.9% |
0.7% |
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GBP |
Claimant Count Change |
|
-24.9K |
-18.6K |
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GBP |
Unemployment Rate |
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5.9% |
6.0% |
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EUR |
Industrial Production |
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1.0% |
-1.8% |
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GBP |
BoE Gov. Carney |
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GBP |
BoE Inflation Report |
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USD |
FOMC Kocherlakota |
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NZD |
Business NZ PMI (Oct) |
|
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58. |
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Government Bond Auction
Date Time Country Auction
Nov 11 07:00 Swiss Announces details of optional bond auction on Nov 12
Nov 11 10:00 Norway Bond auction
Nov 11 10:30 Belgium 3 & 12M T-bill auction (Feb & Nov 2015)
Nov 12 10:03 Sweden Sek 3.5bn 3.75% Aug 2017 Bond
Nov 12 10:10 Italy BOT auction
Nov 12 10:30 Germany Eur 5.0bn new Dec 2016 Schatz auction
Nov 12 10:30 Swiss Bond auction (for decision)
Nov 12 18:00 US Usd 24bn 10 year Note auction
Nov 13 10:10 Italy BTP/CCTeu auctions
Nov 13 10:30 UK Gbp 3bn 2.75% Sep 2024 Gilt
Nov 13 18:00 US Usd 16bn 30 year Note auction
Nov 17 11:00 Belgium OLO Auction
Nov 18 09:30 Spain 6 & 12M T-bill auction
Nov 18 10:00 Slovakia Eur 0.15bn 2018 & Eur 0.15bn 2017 bonds
Nov 19 15:20 Sweden Announces details of bond auction on Nov 26
Nov 20 09:30 Spain Bono/Obligacion auction
Nov 20 10:03 Sweden I/L bond auction
Nov 20 10:30 UK Auctions 0.625% 2042 I/L Gilt
Nov 20 16:30 Italy Announces details of BTPei/CTZ auctions on Nov 25
Nov 21 16:30 Italy Announces details of BOT auction on Nov 26
About the Author
Barry Normanauthor
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