USD/CAD Fundamental Analysis October 2, 2014 Forecast

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Updated: Aug 24, 2015, 22:00 UTC

Analysis and Recommendations: The USD/CAD broke above the 112 price level as the US dollar soared. The lackluster performance of the commodities market

USD/CAD Fundamental Analysis October 2, 2014 Forecast

Analysis and Recommendations:

The USD/CAD broke above the 112 price level as the US dollar soared. The lackluster performance of the commodities market continues to weigh down the Loonie. The pair is up 11 points at 1.1208. The U.S. currency’s rise was triggered by purchases by speculative currency players, market sources said.

The greenback later came under selling pressure on profit-taking as a sense of achievement spread among currency players after the U.S. unit topped the 86 thresholds, market sources said.

Investors are now awaiting U.S. economic data to be released later on Wednesday, including Automatic Data Processing Inc.’s employment report for September and the Institute for Supply Management’s manufacturing index for the same month.

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
AUD	AIG Manufacturing Index	46.5		47.3
JPY	Tankan Large Mfg	13	10	12
JPY	Tankan Non-Mfg	13	17	19
CNY	Manufacturing PMI (Sep)	51.1	51.0	51.1
AUD	Retail Sales (MoM) (Aug)	0.1%	0.4%	0.4%
IDR	Core Inflation (YoY) (Sep)	4.04%	4.33%	4.47%
EUR	Spanish Mfg. PMI (Sep)	52.6	52.2	52.8
CHF	SVME PMI (Sep)	50.4	52.0	52.9
EUR	Italian Mfg. PMI (Sep)	50.7	49.5	49.8
EUR	French Mfg. PMI	48.8	48.8	48.8
EUR	German Mfg. PMI (Sep)	49.9	50.3	50.3
EUR	Manufacturing PMI (Sep)	50.3	50.5	50.5
GBP	Manufacturing PMI (Sep)	51.6	52.5	52.2
USD	ADP Nonfarm		210K	204K
USD	ISM Manufacturing		57.5	58.1
USD	ISM Manufacturing PMI		58.5	59.0

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
AUD	HIA New Home Sales			-5.7%
AUD	Building Approvals		1.0%	2.5%
AUD	Trade Balance		-0.700B	1.359B
GBP	Construction PMI		63.5	64.0
EUR	Interest Rate Decision		0.05%	0.05%
USD	Initial Jobless Claims		297K	293K
USD	Factory Orders (MoM)		-9.3%	10.5%