USD/CAD Fundamental Analysis October 15, 2014 Forecast

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Updated: Aug 25, 2015, 00:00 UTC

Analysis and Recommendations: The USD/CAD added 54 points to trade at 1.1253 as the dollar regained momentum and crude oil prices tumbled. The Canadian

USD/CAD Fundamental Analysis October 15, 2014 Forecast

Analysis and Recommendations:

The USD/CAD added 54 points to trade at 1.1253 as the dollar regained momentum and crude oil prices tumbled. The Canadian Dollar has enjoyed gains from upbeat Canadian employment figures on Friday which consequently pulled down the Unemployment Rate. Unemployment was residing at 7.0% in August and economists had forecast it would remain the same in September. However, joblessness instead fell to 6.8%, a welcome surprise for the Canadian economy. September’s surge of 74.1K jobs smashed economists’ forecasts of only 20.0K and was far more favorable than August’s -11.0K contraction.

Last week the unemployment rate fell to 6.8 percent last month, the lowest since December 2008 and down from 7 percent a month earlier, Statistics Canada said today in Ottawa. The economy created 74,100 jobs, the majority in full-time employment, after recording a decline of 11,000 jobs in August. Economists surveyed by Bloomberg News projected a 20,000 job increase and an unchanged unemployment rate, according to median forecasts.

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.	Event	Actual	Forecast	Previous
GBP	BRC Retail Sales Monitor (YoY) (	-2.1%	1.0%	1.3%
AUD	NAB Business Confidence (Sep)	5		7
EUR	French CPI (MoM) (Sep)	-0.4%	-0.3%	0.4%
EUR	French HICP (MoM) (Sep)	-0.4%	-0.3%	0.5%
EUR	Spanish CPI (MoM) (Sep)	0.2%	0.2%	0.2%
EUR	Italian CPI (MoM) (Sep)	-0.4%	-0.3%	-0.4%
GBP	CPI (MoM) (Sep)	0.0%	0.2%	0.4%
GBP	CPI (YoY) (Sep)	1.2%	1.4%	1.5%
GBP	PPI Input (MoM) (Sep)	-0.6%	-0.4%	-1.2%
EUR	German ZEW Conditions (Oct)	3.2	18.0	25.4
EUR	German ZEW Sentiment (Oct)	-3.6	1.0	6.9
EUR	Industrial Production (MoM)	-1.8%	-1.6%	0.9%
EUR	ZEW Economic Sentiment	4.1	7.1	14.2

Upcoming Economic Events that you should be monitoring:

	Cur.	Event	Actual	Forecast	Previous
Wednesday, October 15
	CNY	CPI (YoY) (Sep)		1.7%	2.0%
	EUR	ECB President Draghi
	GBP	Claimant Count Change		-35.0K	-37.2K
	USD	Core Retail Sales (MoM)		0.3%	0.3%
	USD	PPI (MoM) (Sep)		0.1%	0.0%
	USD	Retail Sales (MoM)		-0.1%	0.6%
	EUR	ECB President Draghi