The USD / CAD has not seen much action on Wednesday with an American Holidays and Bank from Canada. The Loonie gained this week after last Friday's US non-farm employment has exceeded expectations, adding 271,000 jobs and put higher interest rates in December by the Federal Reserve on the table. The pair was trading at 1.3150 before the release of the employment of the United States and it is still a cent higher to 1.3250. The Canadian data release calendar is thin this week, with the biggest upcoming release of the index House Price (HPI) on Thursday at 8:30 am EST and of Canada Deputy Governor of the Bank remarks on Friday at 08:00 EST .
House Price Index show cooling Canadian Real Estate
the HPI is expected at 0.2 percent after last month of 0.3 percent. House prices are estimated to have cooled the rise during the summer. OECD warnings and other institutions and seasonal factors indicate a slowdown in housing prices. The loonie will react to oversee the growth data out of Europe and the US retail sales that could make or break the fate of the December rate hike by the Federal Reserve. Housing was one of the red flags pointed by the OECD on threats to the Canadian economy. Canadian economists including Benjamin Tal at CIBC downplayed some of these risks as further analysis shows that there are fewer unsold and unabsorbed units than the figure title reports.
Canadian Stocks Rebound in 2016 and economic Depends on non-energy sectors
IHS Global Insight published that the Canadian economy will not reach 2 percent growth the next year. The service sector and the recovery of manufacturing spurred by a weak currency has not proven that they can compensate for the loss of energy producers in the West. The flip side of this argument is that if there is a recovery in the oil price currently trading below $ 44, it could provide a double boost to the Canadian economy if US demand continues to grow.
oil prices fell after the announcement of the increase in inventories in the US OPEC is rumored to finally introduce a lower production quota when it meets in Vienna next month to apply a tourniquet to the energy price rout.
CAD events to watch this week:
Thursday, November 12
8:30 Claims USD Unemployment
8:30 CAD housing prices new Index (NHPI)
Friday, November 13
2:00 EUR German prelim GDP q / q
8:00 CAD BOC Senior Deputy Governor Carolyn Wilkins;
8: 30 am USD Core Retail Sales m / m
8:30 USD PPI m / m
8:30 USD Retail Sales m / m
* All times EST
for a full list of events scheduled in the visit of the foreign exchange market of [MarketPulse Economic Calendar] (http://www.marketpulse.com/economic-events/)
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