By FXEmpire.com
Analysis and Recommendations:
The USD/CAD traded at 1.0025 remains above parity, as the CAD gained a bit of momentum against the USD, in late day trading. The US was a mixed bag today, retail sales just eked by under forecast, along with CPI otherwise most eco data was at forecast, and overall the data was a neutral for the USD. In today’s reports the Empire State Mfg data far exceeded the forecasted expectations. Market sentiment continued to turn towards Europe and worries of a possible Greek default that becomes more and more inevitable and out of the hands of the EU.
There was no supportive data from Canada, commodities continued to decline. The move of the CAD was small and overall insignificant. Beginning today and for the balance of the week we will see data from both sides of the border which will determine the winner in this pair
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, which cover the current week and are published by Sunday before the new week begins.
Economic Reports May 15, 2012 actual v. forecast
|
EUR |
French CPI (MoM) |
0.1% |
0.3% |
0.8% |
|
EUR |
French GDP (QoQ) |
0.0% |
0.0% |
0.1% |
|
EUR |
German GDP (QoQ) |
0.5% |
0.1% |
-0.2% |
|
EUR |
German GDP (YoY) |
1.7% |
0.8% |
1.5% |
|
EUR |
French Non-Farm Payrolls (QoQ) |
0.1% |
-0.2% |
-0.1% |
|
GBP |
Trade Balance |
-8.6B |
-8.4B |
-8.6B |
|
EUR |
GDP (QoQ) |
0.0% |
-0.2% |
-0.3% |
|
EUR |
German ZEW Economic Sentiment |
10.8 |
19.0 |
23.4 |
|
EUR |
ZEW Economic Sentiment |
-2.4 |
11.7 |
13.1 |
|
USD |
Core CPI (MoM) |
0.2% |
0.2% |
0.2% |
|
USD |
Core Retail Sales (MoM) |
0.1% |
0.2% |
0.8% |
|
USD |
CPI (MoM) |
0.0% |
0.1% |
0.3% |
|
USD |
Retail Sales (MoM) |
0.1% |
0.2% |
0.7% |
|
USD |
NY Empire State MFG Index |
17.1 |
8.5 |
6.6 |
|
USD |
CPI (YoY) |
2.3% |
2.3% |
2.7% |
|
USD |
Core CPI (YoY) |
2.3% |
2.3% |
2.3% |
|
USD |
TIC Net Long-Term Transactions |
36.2B |
19.4B |
10.1B |
Upcoming Economic Events that affect the CAD and USD
|
May 16 |
13:30 |
USD |
0.730M |
0.764M |
|
|
13:30 |
USD |
0.680M |
0.654M |
||
|
13:30 |
CAD |
1.00% |
-0.30% |
||
|
14:15 |
USD |
0.6% |
0.0% |
||
|
19:00 |
USD |
||||
|
May 17 |
13:30 |
CAD |
9.34B |
12.50B |
|
|
13:30 |
USD |
365K |
367K |
||
|
13:30 |
CAD |
0.4% |
1.6% |
||
|
13:30 |
USD |
3235K |
3229K |
||
|
15:00 |
USD |
10.0 |
8.5 |
||
|
May 18 |
13:30 |
CAD |
0.3% |
0.3% |
|
|
13:30 |
CAD |
0.3% |
0.4% |
||
|
13:30 |
CAD |
2.0% |
1.9% |
Government Bond Auctions (this week)
Date Time Country
May 16 08:50 France
May 16 09:10 Sweden
May 16 09:30 Germany
May 16 09:50 France
May 16 14:30 Sweden
May 17 08:30 Spain
May 17 15:00 US
May 17 17:00 US
Click here to read USD/CAD Technical Analysis.
Originally posted here
