Outlook and Recommendation The USD/CAD continued to climb closing the month at 1.1197 as the US dollar climbed to its pinnacle at the month closed. The
The USD/CAD continued to climb closing the month at 1.1197 as the US dollar climbed to its pinnacle at the month closed. The sharp drop in gold prices and oil prices weighed heavily on the Canadian dollar. The dollar’s strongest year since 2008 is a source of growing concern among some Federal Reserve policy makers, who say further gains have the potential to curb economic growth and keep inflation too low.
Atlanta Fed President Dennis Lockhart, New York’s William C. Dudley and Chicago’s Charles Evans have all said in the past week they are watching the dollar as officials debate the timing of the first interest-rate increase since 2006. A strong dollar tends to restrain exports by making them more expensive, holding back growth, while reducing the cost of imported goods.
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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Upcoming Economic Events that you should be monitoring:
Cur. Event
Wednesday, October 1
CNY Manufacturing PMI
EUR German Manufacturing PMI
GBP Manufacturing PMI
USD ADP Nonfarm Employment Change
USD ISM Manufacturing PMI
Thursday, October 2
GBP Construction PMI
EUR Interest Rate Decision
Friday, October 3
GBP Services PMI
USD Nonfarm Payrolls
USD Unemployment Rate
USD ISM Non-Manufacturing PMI
Monday, October 6
CAD Ivey PMI
Tuesday, October 7
GBP Manufacturing Production (MoM)
Thursday, October 9
GBP Interest Rate Decision
Friday, October 10
CAD Employment Change
Monday, October 13
CNY Trade Balance
Tuesday, October 14
EUR German ZEW Economic Sentiment
Wednesday, October 15
CNY CPI (YoY)
GBP Average Earnings Index +Bonus
Thursday, October 16
12:00 EUR CPI (YoY)
Friday, October 17
15:30 CAD Core CPI (MoM)
Government Bond Auction
Date Time Country
Oct 01 11:03 Sweden Bond auction
Oct 01 11:30 Germany Eur 5.0bn Aug 2024 Bund auction
Oct 01 11:30 UK Auctions 2% 2020 Gilt
Oct 02 10:30 Spain Bono/Obligacion auction
Oct 02 17:00 US Announces details of 3/10Y Note