By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at the open of the US session at 1.0195. Although the CAD had some strong eco data today with housing starts reporting (see chart) well above the forecast of 205K it had little impact on the currency.
CAD has remained relatively flat on a month-to-date basis, as data releases in both Canada and the US have remained mild and as CAD drivers – oil and equities – have been supported by renewed central bank activism and reduced volatility.
USDCAD has remained bound within a relatively tight, 120-point range, since the EU summit from late June, a narrow range when recent market developments are considered.
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 July 10, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 10 |
GBP |
RICS House Price Balance |
-22% |
-16% |
-17% |
|
AUD |
NAB Business Confidence |
-3 |
-2 |
||
|
CNY |
Chinese Trade Balance |
31.73B |
21.00B |
18.70B |
|
|
DKK |
Danish CPI (YoY) |
2.20% |
2.20% |
2.10% |
|
|
NOK |
Norwegian Core Inflation (MoM) |
-0.30% |
0.10% |
0.40% |
|
|
NOK |
Norwegian CPI (MoM) |
-0.50% |
-0.10% |
0.00% |
|
|
GBP |
Industrial Production (MoM) |
1.0% |
-0.2% |
-0.4% |
|
|
GBP |
Manufacturing Production (MoM) |
1.2% |
0.1% |
-0.8% |
|
|
GBP |
Trade Balance |
-8.4B |
-9.0B |
-9.7B |
|
|
GBP |
Industrial Production (YoY) |
-1.6% |
-2.1% |
-2.0% |
|
|
CAD |
Housing Starts |
222.7K |
205.0K |
217.4K |
|
|
GBP |
NIESR GDP Estimate |
-0.2% |
0.1% |
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 11 |
12:30 |
CAD |
-0.4B |
|
|
12:30 |
USD |
-50.1B |
||
|
14:30 |
USD |
-4.3M |
||
|
Jul 12 |
12:30 |
CAD |
0.2% |
|
|
12:30 |
USD |
|||
|
12:30 |
USD |
-1.0% |
||
|
18:00 |
USD |
-124.6B |
||
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
Government Bond Auctions
Date Time Country
Jul 11 09:30 Germany
Jul 11 09:30 Swiss
Jul 11 17:00 US
Jul 12 09:10 Italy
Jul 12 09:30 UK
Jul 12 15:00 US
Jul 12 17:00 US
Jul 13 09:10 Italy
Jul 13 10:00 Belgium
Click here a current USD/CAD Chart.
Originally posted here
