By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 1.0168 as the CAD gained some momentum against a strong USD. Retail sales in Canada today reported above expectations, while CORE sales were well over expectations overall sales were down.
With yesterday’s downgrade to negative watch for Germany, and several other EU nations, Canada is one of the few governments that still maintains a AAA rating, which is very supportive for the currency.
The USD remained strong today as investors continued to flee the eurozone, as the euro tumbled to record lows against many trading partners around the globe.
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 24, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 24 |
CNY |
Chinese HSBC Manufacturing PMI |
49.50 |
48.20 |
|
|
AUD |
RBA Governor Stevens Speaks |
||||
|
EUR |
French Manufacturing PMI |
43.6 |
45.5 |
45.2 |
|
|
HUF |
Hungarian Retail Sales (YoY) |
-2.50% |
-2.00% |
-2.80% |
|
|
EUR |
German Manufacturing PMI |
43.3 |
45.3 |
45.0 |
|
|
EUR |
Manufacturing PMI |
44.1 |
45.3 |
45.1 |
|
|
GBP |
BBA Mortgage Approvals |
26.3K |
31.4K |
29.6K |
|
|
CAD |
Core Retail Sales (MoM) |
0.5% |
0.2% |
-0.4% |
|
|
CAD |
Retail Sales (MoM) |
0.3% |
0.5% |
-0.6% |
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 25 |
14:00 |
USD |
369K |
|
|
14:30 |
USD |
|||
|
Jul 26 |
12:30 |
USD |
0.7% |
|
|
12:30 |
USD |
|||
|
14:00 |
USD |
5.9% |
||
|
Jul 27 |
12:30 |
USD |
1.9% |
|
|
13:55 |
USD |
72.0 |
Government Bond Auctions
Date Time Country
Jul 25 09:30 Germany
Jul 25 15:30 Italy
Jul 25 17:00 US
Jul 26 00:30 Japan
Jul 26 09:10 Italy
Jul 27 09:10 Italy
Jul 27 17:00 US
Click here to read USD/CAD Technical Analysis.
Originally posted here
