By ForexMansion.com
The Canadian economy won’t release any economic fundamentals before next Wednesday, and accordingly, we expect the USD/CAD pair to be affected by other developments around the world, including economic fundamentals from the United States, where the income report is due on Monday, and more importantly, the jobs report is due on Friday, in addition to other economic fundamentals that will be released throughout the week from the United States.
Moreover, developments around the globe including the situation in Japan and how effective the efforts to contain the nuclear crisis will play its role in determining the pair’s movement, while the ongoing political crisis in the Middle East will also play a role in financial markets.
Wednesday 12:30, Canada will release the industrial product price index for the month of February, where the industrial product price index rose in January by 0.2%, while the index is expected to rise by 0.3 percent in February.
Wednesday 12:30, Canada will release the raw materials price index for the month of February, where the raw materials price index rose in January by 0.3%, while the index is expected to rise by 0.5 percent in February, where the rise probably reflects the recent rise in energy prices, especially oil prices.
Thursday 12:30, Canada will release the Gross Domestic Product index for the month of January, where the Canadian economy expanded by 0.5% back in December, while expectations suggest that the Canadian economy will expand by 0.5 percent as well in January, while compared with a year earlier, the GDP expanded in December by 3.2 percent.
