By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 1.0115 as a stronger US gains momentum as the CAD is flat from yesterday’s close and up 0.7% over the past five sessions, ending a week in which the BoC has reaffirmed its bias toward tightening (albeit over the medium term). CAD is trading at its highest level in roughly two months and continues to retrace the losses that occurred over the month of May. The BoC is currently one of the most hawkish central banks as many of its peers are either on hold or in the midst of easing, a fact that has yet to be reflected among market participants, specifically with OIS markets indicating expectations of easing over the next 9 months. Commodities are weaker ahead of the NA session, while equity futures are mixed, providing little for CAD in terms of bullish movement ahead of the data.
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 20, 2012 actual v. forecast
|
Date |
Time |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 20 |
02:30 |
AUD |
Import Price Index (QoQ) |
2.4% |
1.5% |
-1.2% |
|
04:00 |
NZD |
Credit Card Spending (YoY) |
4.6% |
3.9% |
||
|
06:00 |
EUR |
Estonian PPI (MoM) |
0.00% |
0.00% |
||
|
07:00 |
EUR |
German PPI (MoM) |
-0.4% |
-0.2% |
-0.3% |
|
|
07:00 |
EUR |
German PPI (YoY) |
1.6% |
1.8% |
2.1% |
|
|
08:00 |
DKK |
Danish Retail Sales (YoY) |
-1.2% |
-0.5% |
||
|
08:30 |
EUR |
Dutch Consumer Spending |
-1.90 |
-2.10 |
||
|
09:30 |
GBP |
Public Sector Net Borrowing |
12.1B |
11.0B |
16.1B |
|
|
13:30 |
CAD |
Core CPI (MoM) |
-0.4% |
-0.1% |
0.2% |
|
|
13:30 |
CAD |
CPI (MoM) |
-0.4% |
-0.1% |
-0.1% |
|
|
13:30 |
CAD |
CPI (YoY) |
1.5% |
2.0% |
1.2% |
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 24 |
12:30 |
CAD |
Core Retail Sales m/m |
-0.3% |
|
12:30 |
CAD |
Retail Sales m/m |
-0.5% |
|
|
13:00 |
USD |
Flash Manufacturing PMI |
52.5 |
|
|
Jul 25 |
14:00 |
USD |
New Home Sales |
369K |
|
14:30 |
USD |
Crude Oil Inventories |
||
|
Jul 26 |
12:30 |
USD |
Core Durable Goods Orders m/m |
0.7% |
|
12:30 |
USD |
Unemployment Claims |
||
|
14:00 |
USD |
Pending Home Sales m/m |
5.9% |
|
|
Jul 27 |
12:30 |
USD |
Advance GDP q/q |
1.9% |
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
72.0 |
Click here a current USD/CAD Chart.
Originally posted here
