USDCAD spot rate: 1.1130
- 1.1135 (as at 8:43am PST)
Ranges:
|
Asia:
|
1.1090
|
to
|
1.1115
|
Europe:
|
1.1082
|
to
|
1.1113
|
|
North America:
|
1.1079
|
to
|
1.1147
|
Technical Support /
Resistance:
S2
|
S1
|
R1
|
R2
|
1.0970
|
1.1070
|
1.1173
|
1.1277
|
Key Economic Data Releases:
- Canada
new housing price index: 0.3% (exp. 0.1%)
- U.S.
initial jobless claims: 287k (exp. 294k)0
- U.S. wholesale inventories: 0.7% (exp. 0.3%)
- Bank
of England interest rate announcement: unchanged at 0.5% (exp. 0.5%)
Date
|
Canada
|
U.S.A.
|
Oct 10
|
Net employment change
Unemployment rate
|
Jobless claims, wholesale
inventories
|
Yesterday, USDCAD traded from 1.1149
up to 1.1211 with pull-backs initially limited to 1.1170. The 11:00am release
of the U.S. Fed minutes were dovish citing concern over the
recent strength of the USD. A broad-based USD sell-off saw USDCAD fall to 1.1094 before bouncing slightly to 1.1115. Overnight,
the pairing held a 1.1082-1.1115 range as the
USD remained under pressure. USDCAD opened this morning at 1.1095, declined marginally to 1.1079/84, but has since climbed to 1.1150 on broad-based USD strength. The key event risk for the CAD is tomorrow’s job numbers. The economy is expected
to show an increase of 20,000 jobs after a decline of 11,000 the previous
month. The unemployment rate is expected to hold at 7.0. Currently, the TSX and the DJIA are down 1.13% and 0.66% respectively. EURCAD is unchanged trading between 1.4117 and 1.4190. GBPCAD is up 0.20% trading between 1.7932 and 1.8020. JPYCAD
is up 0.40% trading between 0.01026 and 0.01033 Gold is up 0.21% trading at $1,223USD/oz, silver is up 2.56% trading at $17.50USD/oz, while oil is down 0.70%, trading at $86.70.
Sources: Reuters, Bloomberg,
FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
Please
contact the VBCE trading desk at 604-685-1016 for more information on our
corporate foreign exchange and wire payment services. Updates by stevebrown@vbce.ca
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