By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 1.0148 in the early part of the NA session. Markets will be thin with little eco data and the US holiday tomorrow. The loonie is up 0.2% from yesterday’s close as a result of strengthened oil prices. Given that there are no domestic data releases until Friday’s employment report, CAD movement is likely to take the lead from broader market sentiment. Traditional drivers such as equities and oil are also likely to have an impact despite the recent decline in correlations, and ongoing headline risk from Europe will keep investors focused on sovereign ratings and debt metrics – a positive for CAD. Near term rate expectations remain below the BoC’s 1.0% overnight rate, however an improvement has been seen since May 31.
The CAD should be very quiet until US markets are back in full swing.
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.
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jul 4 |
USD |
National Holiday |
|||
|
Jul 5 |
12:15 |
USD |
101K |
133K |
|
|
12:30 |
USD |
385K |
386K |
||
|
14:00 |
USD |
53.1 |
53.7 |
||
|
15:00 |
USD |
-0.1M |
|||
|
Jul 6 |
12:30 |
CAD |
-0.7% |
-5.2% |
|
|
12:30 |
CAD |
5.2K |
7.7K |
||
|
12:30 |
CAD |
7.3% |
7.3% |
||
|
12:30 |
USD |
92K |
69K |
||
|
12:30 |
USD |
8.2% |
8.2% |
||
|
14:00 |
CAD |
55.1 |
60.5 |
Click here a current USD/CAD Chart.
Originally posted here
