USD/CAD Fundamental Analysis – September 14, 2015 – Forecast

Analysis and Recommendations:

The USD/CAD dipped 16 points to trade at 1.3236. The Loonie seems to bounce around aimlessly with no reason for its move. The CAD is near recent lows and now that the BoC meeting is behind there seems to be no reason for the currency moves. The Loonie is not moving with gold or oil or against the US dollar; it seems to be just floundering around.

Canadian markets started off the day with Statistics Canada data that showed new home prices rose in July. The New Housing Price Index revealed prices were up by 0.1 per cent in July. The rise is mostly being driven by new construction homes in Toronto and Vancouver, where prices were up by 0.3 per cent in the same month.

In the US a positive employment report out of the U.S. is again raising speculation as to whether the U.S. Federal reserve will raise rates next week. The latest U.S. weekly jobless claims data shows claims fell by 6,000 last week. The Fed makes its interest rate announcement on Wednesday. If the U.S. central bank were to raise rates, that would put immediate downward pressure on the Canadian dollar. TD economics recently pushed back its forecast for when the Fed would raise rates to the first quarter of 2016.

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:

 

Upcoming Economic Events that you should be monitoring:

Monday, September 14, 2015

Government Bond Auctions

Date Time Country

Sep 10 11:00 Sweden Sek 0.5bn 1% Jun 2025 I/L bonds

Sep 10 19:00 US USD 13bn 30-year bond auction

Sep 10 11:00 Ireland Holds bond auction

Sep 10 11:10 Italy Auctions BTPs/CCTeus

Sep 16 11:03 Sweden Holds bond auction

Sep 16 11:30 Germany Eur 2bn 2.5% Aug 2046 Bund

Sep 16 11:30 UK Auctions 2% 2025 Gilt

Sep 17 10:30 Spain Auctions Bonos/Obligaciones

Sep 17 10:50 France Auctions BTANs

Sep 17 11:50 France Auctions OATi

Sep 17 19:00 US Holds 10-year TIPS auction

Sep 21 12:00 Belgium Auctions OLOs