By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 1.0266.
The tone across global markets remains broadly upbeat, although the initial positive reaction to the Spanish request for outside funds has subsided into the North American open, driven in part by rising yields on Italian bonds. After opening +0.4% stronger vs. the USD, the USD has regained its momentum.
There is no economic data today and limited data this week. More important for CAD is the weekend’s release of Chinese data which points to some stabilization in the economy. This is encouraging to growth sensitive currencies like CAD and AUD. Friday’s CFTC data reported that the net long CAD position is still elevated at $1.4bn, but is being pared back. When most of the other currencies are held net short against the USD, CAD’s net long poses a risk.
The CAD will be at the whim of global sentiment and risk aversion all week.
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 9-10-11, 2012 actual v. forecast ( today was very lite for all of Europe and the US. The Chinese Eco data, had the most effects on the markets )
|
Jun. 09 |
CNY |
Chinese CPI (YoY) |
3.0% |
3.2% |
3.4% |
|
|
CNY |
Chinese PPI (YoY) |
-1.4% |
-1.1% |
-0.7% |
||
|
CNY |
Chinese CPI (MoM) |
-0.3% |
-0.1% |
-0.1% |
||
|
CNY |
Chinese Fixed Asset Investment (YoY) |
20.1% |
20.0% |
20.2% |
||
|
CNY |
Chinese Industrial Production (YoY) |
9.6% |
9.9% |
9.3% |
||
|
CNY |
Chinese Retail Sales (YoY) |
13.8% |
14.3% |
14.1% |
||
|
Jun. 10 |
CNY |
Chinese Trade Balance |
18.70B |
16.30B |
18.40B |
|
|
Jun. 11 |
JPY |
BSI Large Manufacturing Conditions |
-5.7 |
-2.4 |
-7.3 |
|
Upcoming Economic Events that affect the CAD and USD
|
Date |
Currency |
Event |
Previous |
|
|
Jun 12 |
12:30 |
USD |
-0.5% |
|
|
18:00 |
USD |
59.1B |
||
|
Jun 13 |
12:30 |
USD |
-0.2% |
|
|
12:30 |
USD |
0.1% |
||
|
14:00 |
USD |
0.3% |
||
|
14:30 |
USD |
-0.1M |
||
|
12:30 |
CAD |
0.3% |
||
|
Jun 14 |
12:30 |
USD |
377K |
|
|
12:30 |
USD |
0.0% |
||
|
12:30 |
USD |
-124B |
||
|
12:30 |
CAD |
1.9% |
||
|
Jun 15 |
12:30 |
USD |
17.1 |
|
|
13:00 |
USD |
36.2B |
||
|
13:15 |
USD |
79.2% |
||
|
13:15 |
USD |
1.1% |
||
|
13:55 |
USD |
79.3 |
Government Bond Auctions
Date Time Country
Jun 12 08:30 Holland
Jun 12 09:15 Austria
Jun 12 09:30 Belgium
Jun 12 09:30 UK
Jun 12 14:30 UK
Jun 12 17:00 US
Jun 13 09:10 Italy
Jun 13 09:30 Germany
Jun 13 09:30 Swiss
Jun 13 17:00 US
Jun 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
Click here a current USD/CAD Chart.
Originally posted here
