USDCAD spot rate: 1.1560 - 1.1565 (AS AT 7:56AM PST)
RANGES:
|
Asia:
|
1.1518
|
to
|
1.1551
|
Europe:
|
1.1534
|
to
|
1.1584
|
|
North America:
|
1.1537
|
to
|
1.1591
|
Technical Support / Resistance:
S2
|
S1
|
R1
|
R2
|
1.1400
|
1.1465
|
1.1591
|
1.1627
|
Key Economic Data Releases:
-U.S. producer price index m/m: -0.2% (exp. -0.1%) y/y: 1.4% (exp. 1.4%)
-U.S. PPI ex food
& energy m/m: 0.0% (exp. 0.1%) y/y: 1.8% (exp. 1.8%)
-U.S. consumer sentiment index:
93.8 (exp. 89.5)
Key Event Calendar:
DATE
|
CANADA
|
U.S.A.
|
Dec. 15
|
Industrial production, capacity utilization
|
|
Dec. 16
|
Manufacturing shipments
|
Building permits, housing starts, Markit mfg
|
Dec. 17
|
Wholesale sales
|
CPI, Fed interest rate decision
|
Dec. 18
|
Jobless claims, Markit services PMI
|
|
Dec. 19
|
CPI, retail sales
|
Yesterday, USDCAD traded from 1.1448 up to 1.1549 before
falling back to 1.1520 late in the North American session. The main catalyst
for CAD weakness was oil breaking below the $60 level. Overnight USDCAD climbed
to 1.1584 and extended up to 1.1591 in early North American trade. This was
followed by a dip to 1.1537 followed by a bounce to 1.1570. The pairing has
since fallen sharply to test today’s Asian session low and has bounced to
1.1535. Currently, the TSX and the DJIA are down 0.25% and 0.87% respectively
despite a better than expected U.S. consumer sentiment report. EURCAD is up
0.70% trading between 1.4284 and 1.4436. GBPCAD is up 0.20% trading between
1.8120 and 1.8227. JPYCAD is up 0.30% trading between 0.00968 and 0.00979. Gold
is down 0.65% trading between $1,214 and $1,228USD/oz, silver is down 0.16%
trading between $17 and $17.21USD/oz, while oil is down 2%, trading between
$58.31 and $59.54.
Sources: Reuters, Bloomberg, FXStreet,
RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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