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
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% |
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|
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% |
Upcoming Economic Events that you should be monitoring:
Cur. |
Imp. |
Event |
Actual |
Forecast |
Previous |
||
|
|
Holiday |
Japan – Health-Sports Day |
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|
|
Holiday |
Canada – Thanksgiving Day |
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|
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