USDCAD spot rate: 1.1525 - 1.1530 (AS AT 9:27AM PST)
|
RANGES:
|
Asia:
|
1.1448
|
to
|
1.1485
|
|
|
Europe:
|
1.1449
|
to
|
1.1497
|
|
|
North America:
|
1.1470
|
to
|
1.1549
|
Technical Support / Resistance:
|
S2
|
S1
|
R1
|
R2
|
|
1.1400
|
1.1465
|
1.1549
|
1.1586
|
Key Economic Data Releases:
-Canada capacity utilization: 83.4% (exp. 83.1%)
-Canada
new housing price index: 0.1% (exp. 0.1%)
-U.S.
retail sales: 0.7% (exp. 0.4%) ex autos: 0.5% (exp. 0.1%)
-U.S.
initial jobless claims: 294k (exp. 295k)
-U.S.
business inventories: 0.2% (exp. 0.2%)
Key Event Calendar:
|
DATE
|
CANADA
|
U.S.A.
|
|
|
|
|
|
Dec. 12
|
|
Producer price index, consumer sentiment
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|
|
|
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Yesterday, USDCAD traded from 1.1436 up to 1.1502 before
falling back to 1.1467/72. The pairing edged higher to hold a 1.1470 – 1.1495
range for the balance of the session. Overnight, USDCAD dipped to 1.1448 before
climbing to 1.1497. The pairing moved back down to 1.1470 this morning but
finally broke above 1.1500 extending gains to 1.1549. The main catalyst was
broad-based USD strength stemming from strong U.S. retail sales data and a
turn-around in global equity markets. USDCAD has pulled back slightly to 1.1518
after oil failed to break below the $60 level. Currently, the TSX and the DJIA
are up 1.42% and 1.15% respectively. EURCAD is unchanged trading between 1.4249
and 1.4325. GBPCAD is up 0.50% trading between 1.7967 and 1.8148. JPYCAD is
down 1% trading between 0.00965 and 0.00975. Gold is down 0.24% trading between
$1,216 and $1,232USD/oz, silver is down 0.19% trading between $16.93 and
$17.21USD/oz, while oil is up 0.10%, trading between $60.11 and $61.65.
Sources: Reuters, Bloomberg, FXStreet,
RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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