By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 1.0224 with very little movement in this pair. Investors are beginning to prepare their positions for a volatile trading period beginning on Monday, many are withdrawing to the sidelines or moving to the safety of gold or the JPY. As the DX continues to drop in disappointing eco data from the US.
Today, Empire Manufacturing fell below forecast which was offset by negative manufacturing data in Canada.
However it is global markets and the broader move in the USD that is currently driving CAD traders. As argued above, markets appear to be stabilizing on both a risk and pricing front, which is positive for CAD. In addition, next week’s Fed meeting is likely to appear particularly dovish when pitted against the BoC’s relatively hawkish tone, also supporting CAD
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 June 15, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 15 |
JPY |
Interest Rate Decision |
0.10% |
0.10% |
0.10% |
|
GBP |
Trade Balance |
-10.1B |
-8.5B |
-8.7B |
|
|
EUR |
Employment Change (QoQ) |
-0.2% |
-0.2% |
-0.3% |
|
|
CAD |
Manufacturing Sales (MoM) |
-0.80% |
1.00% |
1.90% |
|
|
USD |
NY Empire State Manufacturing Index |
2.3 |
13.0 |
17.1 |
Upcoming Economic Events that affect the CAD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 18 |
12:30 |
CAD |
-2.08B |
||
|
Day 1 |
ALL |
||||
|
Jun 19 |
12:30 |
CAD |
0.4% |
||
|
12:30 |
USD |
0.72M |
|||
|
12:30 |
USD |
0.72M |
|||
|
Day 2 |
ALL |
||||
|
Jun 20 |
14:30 |
USD |
-0.2M |
||
|
16:30 |
USD |
||||
|
16:30 |
USD |
|
|
||
|
18:00 |
USD |
||||
|
18:15 |
USD |
||||
|
Jun 21 |
12:30 |
CAD |
0.1% |
||
|
12:30 |
CAD |
0.4% |
|||
|
12:30 |
USD |
386K |
|||
|
13:00 |
USD |
54.0 |
|||
|
14:00 |
USD |
4.62M |
|||
|
14:00 |
USD |
-5.8 |
|||
|
Jun 22 |
12:30 |
CAD |
0.4% |
Click here a current USD/CAD Chart.
Originally posted here
