Analysis and Recommendations: The USD/CAD fell by 21 points to trade at 1.1147 as oil gained today and the US dollar eased ahead of the Fed decision,
The USD/CAD fell by 21 points to trade at 1.1147 as oil gained today and the US dollar eased ahead of the Fed decision, which is expected to keep everything on track. As the Federal Open Market Committee ends the two-day policy meeting after orders for U.S. durable goods unexpectedly declined, the Bloomberg Dollar Spot Index fell for a third day in a row. While the Fed is expected to announce the end of its bond-purchase program at the conclusion of its two-day meeting, the U.S. central bank will likely reinforce its willingness to wait a while before raising interest rates. The dollar index, which measures the greenback against a basket of six currencies, fell 0.1 percent to 85.415. The U.S. currency weakened.
Aozora Bank manager of forex products Akira Moroga said he doesn’t expect a big surprise from the FOMC, because “it has become a matter of common knowledge among investors that the U.S. isn’t in a hurry to raise rates.”
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 |
|
||
|
JPY |
Industrial Production |
2.7% |
2.2% |
-1.9% |
|
|
NZD |
Business Confidence |
26.5% |
|
13.4% |
|
|
CAD |
RMPI (MoM) (Sep) |
|
-1.0% |
-2.2% |
|
|
USD |
FOMC Statement |
|
|
|
|
|
USD |
Fed Funds Target Rate |
|
0.25% |
0.25% |
Upcoming Economic Events that you should be monitoring:
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
NZD |
RBNZ Rate Statement |
|
|
|
|
|
|
AUD |
HIA New Home Sales |
|
|
3.3% |
|
|
|
GBP |
Nationwide HPI (MoM) |
|
0.3% |
-0.2% |
|
|
|
GBP |
MPC Member Cunliffe |
|
|
|
|
|
|
EUR |
Spanish GDP (QoQ) |
|
0.5% |
0.6% |
|
|
|
EUR |
German Unemployment |
|
5K |
13K |
|
|
|
EUR |
German Unemployment |
|
6.7% |
6.7% |
|
|
|
USD |
GDP (QoQ) (Q3) |
|
3.0% |
4.6% |
|
|
|
USD |
GDP Price Index (QoQ) |
|
2.0% |
2.1% |
|
|
|
USD |
Initial Jobless Claims |
|
283K |
283K |
|
|
|
USD |
Fed Chair Yellen |
|
|
|
|
|
|
EUR |
German CPI (MoM) |
|
-0.1% |
0.0% |
Government Bond Auction
Date Time Country Auction
Oct 29 10:03 Sweden Sek 3.5bn 5.0% Dec 2020 bonds
Oct 29 10:30 Germany Eur 4.0bn Aug 2024 Bund auction
Oct 29 15:30 US Usd 15bn 2Y FRNs
Oct 29 17:00 US Usd 35bn 5Y Notes
Oct 30 10:10 Italy BTP/CCTeu auctions
Oct 30 17:00 US Usd 29bn 7Y Notes
Nov 03 10:00 Norway T-bill auction
Nov 04 10:15 Austria RAGB auction
Nov 04 10:30 Belgium 3 & 6M T-bill auction (Feb & Apr 2015)
Nov 04 10:30 UK Auctions 0.5% 2050 I/L Gilt
Nov 05 10:30 Germany Eur 4.0bn Oct 2019 Bobl auction
Nov 06 09:30 Spain Bono/Obligacion auction
Nov 06 10:03 Sweden I/L bond auction
Nov 06 11:00 Norway Announces details of bond auction on Nov 11
Nov 07 16:30 Italy Announces details of BOT auction on Nov 12