USDCAD spot rate: 1.1275 - 1.1280 (as at 8:15am PST)
|
Ranges:
|
Asia:
|
1.1262
|
to
|
1.1294
|
|
|
Europe:
|
1.1251
|
to
|
1.1277
|
|
|
North America:
|
1.1211
|
to
|
1.1283
|
Technical Support / Resistance:
|
S2
|
S1
|
R1
|
R2
|
|
1.1064
|
1.1177
|
1.1277
|
1.1385
|
Key Economic Data Releases:
-CAD Wholesale Sales 0.2% (exp -0.2%)
Key Event Calendar:
|
Date
|
Canada
|
U.S.A.
|
|
Oct 21
|
|
Existing Home Sales
|
|
Oct 22
|
Bank of Canada interest rate, retail
|
Consumer Price Index
|
|
|
sales
|
|
|
Oct 23
|
|
Jobless claims, Markit Mfg housing
price
|
|
Oct 24
|
|
index, leading indicators
|
|
|
|
New Home Sales
|
After a volatile week last week, markets have opened on with a quiet tone this morning. USDCAD is trading at the same levels as the close on Friday. With little economic data on tap today, narrow trading ranges are expected across the board, similar to the overnight sessions in both Asia and Europe. In Canada, economic data releases pick up on Wednesday with the Bank of Canada Interest Rate decision and retail sales. Markets will be looking closely at the tone of the release in order to get an idea of direction over the coming months. While rates are not expected to change, any comments from the Bank will likely cause a reaction in currency markets. Currently, the TSX is up 0.40% and the DJIA is down 0.19%. EURCAD is up this morning, trading between 1.4350 and 1.4420. GBPCAD is up as well, trading between 1.8125 and 1.8200 JPYCAD is up on the day so far, trading between 0.01049 and 0.01055 overnight. Gold is up on the day so far, trading at 1244USD/oz., silver is up, trading at $17.38USD/oz, while oil is down 0.85%, trading at $82.30.
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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