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USD/CAD Fundamental Analysis October 13, 2014 Forecast

By:
Barry Norman
Updated: Aug 25, 2015, 00:00 UTC

Analysis and Recommendations: The USD/CAD gained 22 points to trade at 1.1206 as the US economy continues to recover. Traders are more worried about the

USD/CAD Fundamental Analysis October 13, 2014 Forecast

USD/CAD Fundamental Analysis October 13, 2014 Forecast
USD/CAD Fundamental Analysis October 13, 2014 Forecast
Analysis and Recommendations:

The USD/CAD gained 22 points to trade at 1.1206 as the US economy continues to recover. Traders are more worried about the FOMC while the CAD weakens as crude oil prices and gold tumbles.  Canada has its employment report today. The market is looking for a rebound in jobs to 18.7K versus -11K the month prior. The loonie has been badly hurt by the slide in oil prices and is now trading near the yearly lows. A disappointment on the labor front, especially if the data shows two months of contraction in a row could push USD/CAD through the 1.1250 level once again with markets starting to price in the possibility of recession in Canada. 

The dollar inched higher on Friday but was still on course to end a record-long rally with its first weekly fall in three months after Federal Reserve policymakers warned about the impact of the greenback’s strength.

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:

 

Cur.

Imp.

Event

Actual

Forecast

Previous

 

  JPY

 

Monetary Minutes

 

 

 

 

 

  JPY

 

Tertiary Industry Activity

-0.1%

0.2%

-0.3%

 

 

  AUD

 

Home Loans (MoM)

-0.9%

0.1%

0.3%

 

 

  GBP

 

Trade Balance (Aug)

-9.10B

-9.60B

-10.41B

 

 

  GBP

 

Trade Balance Non-EU

-3.59B

-4.00B

-4.76B

 

 

  USD

 

Export Price Index

 

-0.1%

-0.5%

 

 

  USD

 

Import Price Index

 

-0.7%

-0.9%

 

 

  CAD

 

Unemployment Rate

 

7.0%

7.0%

 

 

USDCAD(60 minutes)20141010132852

Upcoming Economic Events that you should be monitoring:

 

Cur.

Imp.

Event

Actual

Forecast

Previous

 

 

Holiday

Japan – Health-Sports Day

 

 

Holiday

Canada – Thanksgiving Day

 

  NZD

 

FPI (MoM) (Sep)

 

 

0.3%

 

 

  CNY

 

Exports (YoY) (Sep)

 

 

9.4%

 

 

  CNY

 

Imports (YoY) (Sep)

 

 

-2.4%

 

 

  CNY

 

Trade Balance (Sep)

 

 

49.83B

 

Government Bond Auction

Date Time Country Auction

Oct 13 09:00 Norway T-bill auction

Oct 13 09:10 Italy BTP/CCTeu auctions

Oct 13 09:30 Germany Eur 2.0bn new 6M Bubill (Apr 2015) auction

Oct 14 08:30 Spain 6 & 12M T-bill auction

Oct 14 09:30 Belgium 3 & 12M T-bill auction (Jan & Oct 2015)

Oct 15 09:03 Sweden Bond auction

Oct 15 09:30 Germany Eur 4.0bn Sep 2016 Schatz auction

Oct 16 08:30 Spain Bono/Obligacion auction

Oct 16 09:30 UK Auctions 0.125% 2024 I/L Gilt

Oct 16 15:00 US Announces details of 30Y TIPS auction on Oct 23

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