By FX Empire.com
Economic Events: (GMT)
13:30 CAD GDP (MoM) 0.2% 0.0%
Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. Canada releases fresh GDP data on a monthly basis.
A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD
13:30 USD Employment Cost Index (QoQ) 0.4% 0.3%
The Employment Cost Index measures the change in the price businesses and the government pay for civilian labor.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
14:45 USD Chicago PMI 63.0 62.5
15:00 USD CB Consumer Confidence 68.2 64.5
Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
USD/CAD Fundamental Analysis Jan. 31,2012, Forecast
Analysis and Recommendations:
The USD/CAD is currently trading 1.0036, reaching a 3 day high against the Canadian dollar.
Last week economic data from the US was dissappointing earlier in the week, housing and unemployment data did not reach forcasts. The Commerce Department reported U.S. consumer spending came to a virtual standstill in December after climbing 0.1% the month before.
The over riding factor today was problems with the Greek settlement.The discord came as European Union leaders met in Brussels Monday for their first summit of the year to finalize a deficit-reduction agreement and support the setting up of a rescue fund. There was no Greek deal ready to be presented as the negotiating team was still in Athens without reaching final agreement.
Scheduled Sovereign Bond Sales
Jan 31 10:30 Belgium Auctions 3 & 6M T-bills
Jan 31 15:30 UK Details gilt auction on Feb 07
Feb 01 10:10 Sweden Auctions T-bills
Feb 01 10:30 Germany Eur 5.0bn 2.0% Jan 2022 Bund
Feb 01 10:30 Portugal Eur 0.75-1.0bn 3M T-bill
Feb 01 10.30 UK Auctions 5.0% 2025 conventional Gilt
Feb 01 15:30 Sweden Details nominal bond auction on Feb 08
Feb 01 16:00 US
Announces details of 3Y Notes on Feb 07, 10Y Notes on Feb
08 & 30Y Bonds on Feb 09
Feb 02 09:50 France OAT Auction
Feb 02 10.30 UK Auctions 0.125% 2029
Originally posted here
