Canadian Dollar expect nonfarm payroll, crude oil for Directions April 2010
Canadian dollar retreated against the dollar through trade rose last week, pushing USD/CAD higher for the first week in four. A week of economic event risk being empty loonie to trade in the broader financial markets move and suddenly the power of the U.S. Dollar. USD/CAD was almost certainly will continue to receive the coming weeks will depend on the risk of major events in the U.S. economy. Save big surprises from the second tier and the monthly industrial price Gross Domestic Product figures, the empty economic calendar left Canada can USD/CAD trade almost exclusively on the U.S. dollar and commodity price movements.
Industrial product showed that inflation is likely to slow in February, but recent figures showed the Consumer Price Index is a steady increase in the Bank of Canada Core Consumer Price Index inflation is a major stumbling block for monetary policy. Board recently reaffirmed its commitment to keep interest rates near lows for the second quarter of 2010 words, but has recently stressed that such a statement depends on the prize. No doubt the bank will look at core inflation 2.1 percent in the year-over-year basis, only slightly above the official target of 2.0 percent. If a central bank’s inflation target, the board has a mandate to keep price pressures contained. Price cocky in the midst of high growth in the relatively weak economic activity shows that only the price will continue to be taken when looking at the economic recovery continues.
Topics of interest is probably one of the rear seat for now, at least until the next Bank of Canada interest rate announcement on April 20. In the meantime, traders will be very close eye on the track of the price of crude oil and other hard materials. Canadian Dollars correlated continuing volatility in the asset class of content words to continue, and it will be very important to see whether the price of crude oil outside the range of recent consolidative them. Whether it is a breakout to the upside or downside dollar, the Canadian is likely to follow
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