By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at almost parity at 1.0012. With the greenback the benefactor of risk aversion and crude oil tumbling to trade at the 96.00 price, the CAD has no strength. With oil exports a major part of the CAD economy and prices tumbling 10% in just a few days, this is seen as a weakening factor for the Looney Thursday and Friday brings us several eco reports including trade balance and Employment change. Canada has recently seen a lot of negative reports and markets are hoping for a positive above forecast jobs report.
While the US has entered the annual spring stall, markets are hoping the drop in crude prices will help stimulate growth and consumer confidence. There are a lot of events on Thursday including Chairman Bernanke who is known for shaking up the markets.
Upcoming Economic Events that affect the CAD and USD
|
May 10 |
13:30 |
USD |
IImport Price Index (MoM) |
-0.2% |
1.3% |
|
13:30 |
CAD |
Trade Balance |
1.0B |
0.3B |
|
|
13:30 |
USD |
Trade Balance |
-50.0B |
-46.0B |
|
|
13:30 |
USD |
Initial Jobless Claims |
369K |
365K |
|
|
13:30 |
USD |
Continuing Jobless Claims |
3278K |
3276K |
|
|
14:30 |
USD |
Fed Chairman Bernanke Speaks |
|||
|
19:00 |
USD |
Federal Budget Balance |
30.0B |
-198.2B |
|
|
May 11 |
13:30 |
USD |
Core PPI (MoM) |
0.3% |
|
|
13:30 |
CAD |
Employment Change |
7.0K |
82.3K |
|
|
13:30 |
USD |
PPI (MoM) |
0.0% |
||
|
13:30 |
CAD |
Unemployment Rate |
7.0% |
7.2% |
|
|
14:55 |
USD |
Michigan Consumer Sentiment |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for updated USD/CAD News.
Originally posted here
