By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is holding pretty much at the open trading at 1.0282 as markets pay more attention to news flow from the EU then too much else. With the upcoming EU Summit, the theatrics have already begun.
This week has been fairly thin on eco data, with the US reporting record housing starts yesterday, month end eco data will begin to flow on Wednesday, with Canada seeing GDP on The 29th.
The Looney has been strong, having gained 0.3% against the USD since yesterday’s close and performing in line with the other commodity currencies. Rumors of a potential summer rate cut from China have helped to spur commodity currencies; especially as it provides further evidence that China plans to support growth and increases the likelihood of a soft landing. However, on a more negative note, Moody’s warned that changes to Canada’s mortgage market might be too little too late leaving the Canadian consumer relatively vulnerable.
Crude oil continues to decline, weakening the CAD
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.
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 27 |
12:30 |
USD |
0.2% |
|
|
14:00 |
USD |
-5.5% |
||
|
14:30 |
USD |
|||
|
Jun 28 |
12:30 |
USD |
||
|
12:30 |
USD |
1.9% |
||
|
Jun 29 |
12:29 |
CAD |
0.1% |
|
|
12:30 |
CAD |
-2.0% |
||
|
12:30 |
USD |
0.1% |
||
|
12:30 |
USD |
0.3% |
||
|
13:45 |
USD |
52.7 |
||
|
13:55 |
USD |
74.1 |
Click here a current USD/CAD Chart.
Originally posted here
