By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 1.0075 in the early part of the day, after the release of US 2nd Q GDP. There are no economic releases in Canada today.
The US GDP showed that the economy continues to slow in the last quarter. Although the release matched expectations, those expectations were set very low.
As the Canadian economy is so dependent upon the US economy, this can be seen as a negative for the CAD.
All eyes are now focused on next week releases ahead of the FOMC meeting on Tuesday and Wednesday.
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 July 27, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 27 |
JPY |
Tokyo Core CPI (YoY) |
-0.6% |
-0.7% |
-0.6% |
|
JPY |
Retail Sales (YoY) |
0.2% |
1.2% |
3.6% |
|
|
CHF |
KOF Leading Indicators |
1.43 |
1.25 |
1.15 |
|
|
SEK |
Swedish Retail Sales (MoM) |
-0.40% |
0.20% |
0.30% |
|
|
EUR |
German CPI (MoM) |
0.4% |
0.4% |
-0.1% |
|
|
EUR |
German CPI (YoY) |
1.7% |
1.7% |
1.7% |
|
|
USD |
GDP (QoQ) |
1.5% |
1.5% |
2.0% |
Upcoming Economic Events that affect the CAD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 31 |
12:30 |
CAD |
0.3% |
|
|
12:30 |
CAD |
-1.0% |
Government Bond Auctions
Date Time Country
Jul 30 09:10 Italy
Jul 30 10:00 Belgium
Jul 31 00:30 Japan
Jul 31 09:30 Belgium
Aug 01 09:30 Germany
Aug 01 10:00 Norway
Aug 01 13:00 US
Aug 02 08:30 Spain
Click here a current USD/CAD Chart.
Originally posted here
