By FXEmpire.com

Analysis and Recommendations:

The USD/CAD is trading early in the day at 1.0176 falling 0.0066 as the USD continues to lose strength, as investors prepare for the FOMC statement tomorrow.

Canadian data today showed that wholesales increased more than expected, reporting in at 1.5%.

After, relief and more positive sentiment as Greece begins the difficult job of forming a government, now that an exit from the EU, investors have begun to look at riskier assets. Spain’s borrowing costs continue to soar.

Markets are awaiting final G20 statements as the summit closes, but the US had pledged over 500bn USD to the IMF fund, to help foster growth and control contagion from EU.

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 19, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jun. 19

AUD

Monetary Policy Meeting Minutes

GBP

Core CPI (YoY)

2.2%

2.3%

2.1%

GBP

CPI (YoY)

2.8%

3.0%

3.0%

GBP

CPI (MoM)

-0.1%

0.1%

0.6%

EUR

German ZEW Economic Sentiment

-16.9

4.0

10.8

EUR

ZEW Economic Sentiment

-20.1

-5.7

-2.4

USD

Building Permits

0.780M

0.728M

0.723M

USD

Housing Starts

0.708M

0.720M

0.744M

CAD

Wholesale Sales (MoM)

1.5%

1.0%

0.3%

Upcoming Economic Events that affect the CAD and USD

Date

Time

Currency

Event

Forecast

Previous

Jun 20

14:30

USD

Crude Oil Inventories

-0.2M

16:30

USD

FOMC Statement

16:30

USD

Federal Funds Rate

18:00

USD

FOMC Economic Projections

18:15

USD

FOMC Press Conference

Jun 21

12:30

CAD

Core Retail Sales m/m

0.1%

12:30

CAD

Retail Sales m/m

0.4%

12:30

USD

Unemployment Claims

386K

13:00

USD

Flash Manufacturing PMI

54.0

14:00

USD

Existing Home Sales

4.62M

14:00

USD

Philly Fed Manufacturing Index

-5.8

Jun 22

12:30

CAD

CPI m/m

0.4%

Upcoming Government Bond Auctions

Date Time Country

Jun 20 09:10 Sweden

Jun 20 09:30 Germany

Jun 20 10:00 Norway

Jun 21 08:30 Spain

Jun 21 08:50 France

Jun 21 09:30 UK

Jun 21 09:50 France

Jun 21 15:00 US

Jun 21 17:00 US

Jun 22 15:30 Italy

Click here for updated USD/CAD News.

Originally posted here