By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 0.9896 as the USD gained 0.0030 in the morning session. Canadian CPI disappointed markets today, but had little effect on the currency. The US data surprised traders with Michigan Consumer Sentiment coming in better the forecast, helping to give the US a boost before the weekend.
There is little action in the markets and light trading. This coming week will bring us some eco data from Canada which might paint a better picture, but even next week markets are not expecting much action.
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 17, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
EUR |
German PPI (MoM) |
0.0% |
0.4% |
-0.4% |
|
|
EUR |
German PPI (YoY) |
0.9% |
1.3% |
1.6% |
|
|
EUR |
Current Account |
12.7B |
11.1B |
10.3B |
|
|
EUR |
Trade Balance |
10.5B |
5.4B |
6.8B |
|
|
Core CPI (MoM) |
-0.1% |
0.2% |
-0.4% |
||
|
CAD |
CPI (MoM) |
-0.1% |
0.2% |
-0.4% |
|
|
CAD |
CPI (YoY) |
1.3% |
2.0% |
1.5% |
|
|
USD |
Michigan Consumer Sentiment |
73.6 |
72.4 |
72.3 |
|
|
USD |
Michigan Inflation Expectations |
3.6% |
3.0% |
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 21 |
12:30 |
CAD |
Wholesale Sales m/m |
0.9% |
|
Aug 22 |
12:30 |
CAD |
Core Retail Sales m/m |
0.5% |
|
12:30 |
CAD |
Retail Sales m/m |
0.3% |
|
|
14:00 |
USD |
Existing Home Sales |
4.37M |
|
|
14:30 |
USD |
Crude Oil Inventories |
-3.7M |
|
|
18:00 |
USD |
FOMC Meeting Minutes |
Click here for updated USD/CAD News.
Originally posted here
