USD/CAD Fundamental Analysis October 22, 2013 Forecast

Analysis and Recommendations:

The USD/CAD is trading at 1.029 flat after lackluster Canadian data. The Canadian dollar remained flat against the majority of its 16 most-traded peers before the country’s largest trading partner, the U.S., releases data tomorrow that may show hiring picked up speed in September. The currency snapped a three-day gain against its U.S. counterpart before the Bank of Canada makes a rate decision and releases its monetary policy report Oct. 23. The bank is forecast to reduce its growth projections after Senior Deputy Governor Tiff Macklem said earlier this month that the nation’s economy will expand more slowly than had been forecast.

The US dollar limped to the finish line last week and it didn’t burst out of the gates to start the week but now it could be finding its stride. The good dollar news from the weekend came from the Senate Republican leader Mitch McConnell on Face the Nation:

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.

Economic Data October 21, 2013 actual v. forecast

 

Upcoming Economic Events that affect the CHF, EUR, GBP, CAD and USD

Government Bond Auction

Date Time Country 

Oct 22 00:30 Japan

Oct 22 08:30 Spain

Oct 23 09:30 Germany

Oct 23 14:30 Sweden

Oct 23 15:30 Italy

Oct 24 11:00 Norway

Oct 24 15:00 US

Oct 24 15:30 Italy

Oct 24 17:00 US

Oct 25 15:30 Italy