Bank of Canada lowers expectations – USD/CAD rises
The Bank of Canada did it again – the rates were raised by 0.25% to 0.75%. There was a consensus for this move. What wasn’t expected was a weaker forecast for the Canadian economy. So, the decision hurts the Canadian dollar. USD/CAD now trades at 1.5560, about 40 pips higher than before the release. Will [...]
USD/CAD Rises on Tame Canadian Inflation
Canada’s Consumer Price Index (CPI) rose by 0.3%, slightly stronger than 0.1% that was expected. But Core CPI, which is more closely watched by the central bank, met expectations and rose by 0.3%. USD/CAD makes a small rise and gets away from the support line. After a jump of 0.7% in Core CPI in February, [...]
Forex Daily Outlook – June 18 2010
Mark Carney, Governor of the Bank of Canada speaks at the Newfoundland & Labrador Oil & Gas Industries Association, in St. John’s, Canada’s Foreign Securities Purchases are expected to grow and Canadian Leading Index is released. These events close this week’s activities. Let’s see what’s on our menu today. In Canada, On Friday, 18 June [...]
Forex Daily Outlook – June 16 2010
US Building Permits and PPI are released, Federal Reserve Chairman Ben Bernanke speaks in New York and Capacity Utilization Rate is expected to grow. Let’s see what’s awaiting us today. In the US, Building Permits expected to rise this month by 20,000 units following the unpredicted drop to 0.61M in the previous month while Housing [...]
USD/CAD Outlook – June 14-18
Many economic figures are released in Canada in the upcoming week, but the highlights will be two appearances by Mark Carney, head of the BOC. Here’s an outlook for the Canadian events, and an updated technical analysis for USD/CAD, now at lower levels. USD/CAD graph with support and resistance lines on it. Click to enlarge: [...]
Forex Daily Outlook – June 10 2010
US Unemployment Claims and Trade Balance followed by Canada’s Trade Balance highlight this day’s events. Let’s see what awaits us today. In the US, Unemployment Claims are expected to continue decreasing from 453K to 447K which is a good sign for the US market.
Forex Daily Outlook – June 7 2010
The week begins with several important events, Chairman Ben Bernanke (US) and Governor Mark Carney (CAD) delivers speeches and in Australia the ANZ Job Advertisements is released. Let’s see what awaits us today. In the US, Federal Reserve (Fed) Chairman Ben Bernanke intends to speak at the Dinner hosted by the Woodrow Wilson International Center, [...]
USD/CAD Parity Battle Continues on Slower Canadian Growth
Canadian monthly GDP rose by 0.3% in February, slower than expected. This sets the stage for a close above parity this week. Will the rate decision wait? The rise of 0.3% missed early expectations that saw a 0.5% growth rate in February, although some economists saw this smaller growth rate. This was half of January’s [...]
Forex Daily Outlook – April 29 2010
Great news from the U.S. – Unemployment decrease and US Treasury Secretary Timothy Geithner’s testimony before the House Appropriations Committee, in Washington DC are at the front of the news today. Let see what else awaits us this day. In the US, Unemployment Claims report, released weekly, shows a decrease in the number of expected [...]
Forex Daily Outlook – April 27 2010
A good stat of the week for US market Consumer Confidence index and House Price Index are expected to rise. A Positive tendency is also felt in other markets. Let’s see what awaits us today. In the US, Consumer Confidence is up in the US, a leading indicator of consumer spending released monthly shows an [...]
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