By FX Empire.com
USD/CAD Fundamental Analysis February 13, 2012, Forecast
Economic Events: (GMT)
Monday is a very quiet day for economic news. Watch for a special EU meeting to handle the Greek Bailout
06:45 EUR French CPI (MoM)
The French Consumer Price Index (CPI) measures the changes in the price of goods and services purchased by consumers.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
Analysis and Recommendations:
The USD/CAD is currently trading up at 1.0021 from 0.9946. The greenback is rising on worries about Greece the same old story, just a different chapter. The markets did not even slow down for the lackluster reports on US Trade Balance or Consumer Confidence. The Dollar just kept marching upwards. This afternoon the Budget Deficit made all the difference, coming in at 27.4 billion vs. 48.9 billion January a year ago.
The USD is expected to maintain strength on Monday, as a disaster unfolds in Athens.
Economic Data Thursday Feb 9, 2012 ( actual v forecast )
|
AUD |
NAB Quarterly Business Confidence |
1.00 |
-3.00 |
|
|
KRW |
South Korean Interest Rate Decision |
3.25% |
3.25% |
3.25% |
|
CNY |
Chinese CPI (YoY) |
4.5% |
4.0% |
4.1% |
|
CNY |
Chinese PPI (YoY) |
0.7% |
0.8% |
1.7% |
|
GBP |
Industrial Production (MoM) |
0.5% |
0.2% |
-0.5% |
|
GBP |
Manufacturing Production (MoM) |
1.0% |
0.3% |
-0.1% |
|
GBP |
Trade Balance |
-7.1B |
-8.4B |
-8.9B |
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
EUR |
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
|
USD |
Initial Jobless Claims |
358K |
370K |
373K |
|
EUR |
ECB Press Conference |
|||
|
USD |
Continuing Jobless Claims |
3515K |
3525K |
3451K |
|
MXN |
Mexican CPI (YoY) |
4.0% |
4.0% |
3.8% |
|
GBP |
NIESR GDP Estimate |
-0.2% |
-0.2% |
Sovereign Bond Auction Schedule Feb 13-17
Feb 13 10:10 Italy BOT auction
Feb 13 10:10 Norway T-bill auction
Feb 13 10:30 Germany Eur 4.0bn Aug 2012 Bubill
Feb 13 12:00 Norway Details bond auction on Feb 20
Feb 14 09:30 Netherlands Eur 3.0bn-4.0bn Jan 2017 DSL
Feb 14 09:30 Spain 12 & 18M T-bill auction
Feb 14 10:10 Greece 3M T-bill auction
Feb 14 10:10 Italy BTP/CCTeu auction
Feb 14 10:30 Belgium Auctions 3 & 12M T-bills
Feb 15 10:10 Sweden Auctions T-bills
Feb 15 10:30 Portugal Eur 1.5-1.75bn May & Aug T-bills
Feb 16 09:30 Spain Obligacion auction
Feb 16 10.30 UK Auctions 4.5% 2034 conventional Gilt
Feb 16 10:50 France BTA/OATi auction
Feb 16 16:00 US
Announces auctions of 2Y Notes on Feb 21, 5Y Notes on Feb
22 & 7Y Notes on Feb 23
Feb 16 18:00 US Auctions 30Y TIPS
Originally posted here
