By FXEmpire.com
USD/CAD Fundamental Analysis March 26, 2012, Forecast
Analysis and Recommendations:
The USD/CAD is trading mid day at 0.9992 as the USD shot up in early trading on a complicated CPI report in Canada, where Core CPI came in a bit over forecast, but CPI in total came in below.
Housing data was later released in the USD to meet with disappointment from investors, compounded by some Fed comments about monetary policy, the USD lost strength and returned to close to the opening. The pair then remained in a tight range. With little to pull or push either up or down.
Economic Reports March 23, 2012 actual v. forecast
|
Mar. 23 |
GBP |
Nationwide Consumer Confidence |
44 |
49 |
47 |
|
EUR |
French Business Survey |
96 |
93 |
93 |
|
|
EUR |
Spanish PPI (YoY) |
3.4% |
3.6% |
3.7% |
|
|
TWD |
Taiwanese Industrial Production (YoY) |
8.4% |
10.1% |
-16.8% |
|
|
EUR |
Italian Retail Sales (MoM) |
0.7% |
0.2% |
-0.8% |
|
|
GBP |
BBA Mortgage Approvals |
33.1K |
39.1K |
38.0K |
|
|
CAD |
Core CPI (MoM) |
0.4% |
0.3% |
0.2% |
|
|
CAD |
CPI (MoM) |
0.4% |
0.5% |
0.4% |
|
|
BRL |
Brazilian Retail Sales (YoY) |
7.3% |
6.8% |
6.7% |
Economic Events Scheduled for March 26, 2012
07:00 EUR GfK German Consumer Climate
The Gfk German Consumer Climate Index measures the level of consumer confidence in economic activity. The data is compiled from a survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions.
09:00 EUR German Ifo Business Climate Index
The German Ifo Business Climate Index rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers. The index is compiled by the Ifo Institute for Economic Research.
15:00 USD Pending Home Sales (MoM)
The National Association of Realtors (NAR) Pending Home Sales Report measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
Government Bond Auctions (this week)
Mar 26 09:10 Norway Nok 3.0bn NST 474 3.75% May 2021 Bond
Mar 26 10:30 Germany Eur 3.0bn new Mar 2013 Bubill
Mar 26 15:30 Italy Details BTP/CCTeu auction on Mar 29
Mar 27 09:10 Italy CTZ/BTPei auction
Mar 27 08:30 Spain 3 & 6M T-bill auction
Mar 27 17:00 US Auctions 2Y Notes
Mar 28 09:10 Italy BOT auction
Mar 28 17:00 US Auctions 3Y Notes
Mar 29 09:10 Italy BTP/CCTeu auction
Mar 29 17:00 US Auctions 7Y Notes
Originally posted here
