JPY Daily News

Economic Calendar Stacked with Canadian Data

In contrast to the US, this week's economic calendar is stacked with Canadian data releases. Today will bring CPI data and the core data is expected to fall to 0.2% while the headline number should remain steady at 0.2%. On Wednesday we will get retail sales data while the highlight will come on Friday with monthly GDP. Canadian data for November was generally stronger, in-line with better US data. However, during the month of December the two nations' data releases have diverged with the US continuing to post better numbers while Canada has disappointed on a number of points, most notably being employment and manufacturing data.

The USD/CAD continues to move higher and has resistance at 1.0460 from the trend line off of the October and November highs. Support is found at 1.0110 from the August uptrend. Versus the EUR the CAD has fared better as the EUR/CAD continues to test the September lows of 1.3400. A break here would expose this year's low of 1.2985.

Current Time: 05/27 01:00 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
12/20
	04:30	JPY	All Industries Activity	m/m	-0.7%	1.2%	0.8%
	23:50	JPY	Trade Balance		-0.46T	-0.28T	-0.54T