By FXEmpire.com

Analysis and Recommendations:

The USD/CAD is trading at 1.0017. Canadian markets are closed today for a local holiday. With little eco data last week the CAD moved in response to the USD and global markets. The surge in oil helped the Looney over the weekend, but oil is expected to decline.

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 August 6, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 06

AUD

MI Inflation Gauge (MoM)

0.2%

-0.2%

TWD

Taiwanese CPI (YoY)

2.46%

2.02%

1.77%

AUD

ANZ Job Advertisements (MoM)

-0.80%

-1.10%

GBP

Halifax House Price Index (MoM)

-0.6%

-0.5%

0.8%

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

Event

Previous

Aug 7

12:30

CAD

Building Permits m/m

7.4%

14:00

CAD

Ivey PMI

49.0

Aug 8

12:30

USD

Prelim Nonfarm Productivity q/q

-0.9%

12:30

USD

Prelim Unit Labor Costs q/q

1.3%

14:30

USD

Crude Oil Inventories

Aug 9

12:15

CAD

Housing Starts

223K

12:30

CAD

Trade Balance

-0.8B

12:30

CAD

NHPI m/m

0.3%

12:30

USD

Trade Balance

-48.7B

12:30

USD

Unemployment Claims

Aug 10

12:30

CAD

Employment Change

7.3K

12:30

CAD

Unemployment Rate

7.2%

12:30

USD

Import Prices m/m

-2.7%

18:00

USD

Federal Budget Balance

-59.7B

Government Bond Auctions

Date Time Country

Aug 07 00:30 Japan

Aug 07 09:15 Austria

Aug 07 14:30 UK

Aug 07 17:00 US

Aug 08 09:30 Germany

Aug 08 10:00 Norway

Aug 08 15:30 Italy

Aug 08 17:00 US

Aug 09 15:30 Italy

Aug 09 17:00 US

Aug 10 10:00 Belgium

Click here for updated USD/CAD News.

Originally posted here