Share

USD/CAD Analysis Forecast – June 15, 2015 – Forecast

usdcad friday bnsAnalysis and Recommendations (USD/CAD Forecast):

The USD/CAD added 27 points as the greenback gathered momentum on a delayed reaction to the jump in retail sales. Gold and oil remained weak on Friday weighing on the Loonie. The CAD is trading at 1.2318.  The dollar was slightly higher after data showed US retail sales in May rose 1.2 percent, better than the 1.1 percent gain forecast by analysts.

The figures are the latest to indicate the world’s number one economy is back on the road to recovery after a wobbly few months at the start of the year. They also increased the likelihood the Federal Reserve will hike interest rates this year. Yet the dollar’s reaction was limited at best, partly held back by a fall in U.S. Treasury yields and caution before the June 16-17 Federal Open Market Committee (FOMC) meeting. Fed funds futures also barely reacted to the data. The International Monetary Fund dramatically raised the stakes in Greece’s stalled debt talks on Thursday, announcing that its delegation had left negotiations in Brussels and flown home because of major differences with Athens.

Meanwhile, robust U.S. retail sales data added more evidence of economic recovery in Canada’s biggest trade partner, bolstering expectations the Federal Reserve will raise rates this year.  Oil, which is priced in U.S. dollars, fell on the stronger greenback and after a World Bank report forecast the global economy would expand below its 3-per-cent forecast in January.

ForexTraq 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 for USD/CAD in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur.

 

Event

Actual

Forecast

Previous

 

 

 

 

Russia – Russia Day

  NZD

 

Business NZ PMI (May)

51.5

 

51.8

 

 

  JPY

 

Industrial Production (MoM)

1.2%

1.0%

1.0%

 

 

  JPY

 

Tertiary Industry Activity Index

-0.2%

0.4%

-1.0%

 

 

  EUR

 

Spanish CPI (YoY) (May)

-0.2%

-0.2%

-0.6%

 

 

  EUR

 

Spanish HICP (YoY) (May)

-0.3%

-0.3%

-0.3%

 

 

  EUR

 

Industrial Production (MoM)

 

0.3%

-0.3%

   

 usdcad fri

Upcoming Economic Events that you should be monitoring:

Monday, June 15, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  CHF

 

Retail Sales (YoY) (Apr)

 

 

-2.8%

 

 

  CHF

 

PPI (MoM) (May)

 

 

-2.1%

 

 

  EUR

 

Trade Balance (Apr)

 

 

23.4B

 

 

  RUB

 

Interest Rate Decision (Jun)

 

11.50%

12.50%

 

 

  USD

 

NY Empire State Manufacturing

 

5.20

3.09

 

 

  CAD

 

Manufacturing Sales (MoM)

 

 

2.9%

 

 

  USD

 

Industrial Production (MoM)

 

0.2%

-0.3%

   

Government Bond Auctions

Date Time Country

Jun 15 00:00 UK New 30 year I/L syndicated Gilt auction

Jun 17 11:03 Sweden Holds bond auction

Jun 17 11:30 Germany Eur 3bn Feb 2025 Bund

Jun 18 10:30 Spain Auctions Bonos/Obligations

Jun 18 11:10 France Auctions BTANs

Jun 18 12:10 France Auctions OATi

Jun 18 17:00 US Details 2-year FRNs

Jun 18 17:00 US Announces details of 2/5/7 year notes

Jun 18 18:00 US Auctions 30-year TIPs sale on 24 Jun

 

USD/CAD analysis forecast

Leave a Comment