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

Analysis and Recommendations (USD/CAD Forecast):

The USD/CAD dipped 4 points due to the decline of the US dollar as growth flows across the border to their northern neighbors. The CAD is trading at1.1954. The greenback continued to weaken on Thursday, sending a benchmark dollar index to the lowest level since late January as recent sluggish U.S. data prompt investors to rethink the timing of the first Federal Reserve rate hike.

The CAD has also been buoyed recently by a weaker U.S. dollar and a brighter outlook from the Bank of Canada. “While a touch below its recent high, the loonie has now gone almost full circle this year, and is now within shouting distance of where it started 2015 (86 cents),” said chief economist Douglas Porter of BMO Nesbitt Burns.

That’s good news for Canadian travelers heading south, and should ease some of the higher prices for imported goods that we’ve seen of late. It’s not the best news, however, for Canadian exporters, whose products are suddenly that much higher when sold into the United States.

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. 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.

USDCAD(15 Minutes)20150514101317

Today’s economic releases actual vs. forecast:

Cur. Event Actual Forecast Previous
  NZD Business NZ PMI (Apr) 54.5
  NZD Core Retail Sales (QoQ) 2.9% 1.5% 1.9%
  NZD Retail Sales (QoQ) (Q1) 2.7% 1.5% 1.7%
  GBP RICS House Price Balance (Apr) 33% 22% 22%

 

Upcoming Economic Events that you should be monitoring for USD/CAD in forex trading:

Friday, May 15, 2015

Cur. Event Actual Forecast Previous
  JPY BoJ Governor Kuroda Speaks
  CHF PPI (MoM) (Apr) -0.1% 0.2%
  USD NY Empire State Manufacturing 5.00 -1.19
  CAD Foreign Securities Purchases 7.23B 9.27B
  CAD Manufacturing Sales (MoM) 1.2% -1.7%
  USD Industrial Production (MoM) 0.1% -0.6%
  USD Michigan Consumer 88.6 88.8

Government Bond Auctions

Date Time Country

May 18 09:30 Germany Eur 1.5bn 12M (May 2016) Bubills

May 18 10:00 Belgium Auctions OLOs

May 20 09:03 Sweden Holds bond auction

May 21 08:30 Spain Auctions Bonos

May 21 09:03 Sweden Holds bond exchange auction

May 21 09:10 France Auctions BTANs

May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt

May 21 10:10 France Auctions

May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May

May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year

May 21 17:00 US Auctions 10-year TIPs

May 22 09:03 Sweden Holds bond exchange auction

May 22 10:00 Norway Details bond auction on 27 May

USD/CAD analysis forecast 2015 May 15

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