USDCAD spot rate: 1.1630 - 1.1635 (AS AT 8:07AM PST)
|
RANGES:
|
Asia:
|
1.1634
|
to
|
1.1673
|
|
|
Europe:
|
1.1635
|
to
|
1.1658
|
|
|
North America:
|
1.1607
|
to
|
1.1655
|
Technical Support / Resistance:
|
S2
|
S1
|
R1
|
R2
|
|
1.1400
|
1.1465
|
1.1627
|
1.1667
|
Key Economic Data Releases:
-Canada manufacturing shipments: -0.6% (exp. -0.4%)
-U.S. building permits: 1.035
million (exp. 1.06 million)
-U.S. housing starts: 1.028
million (exp. 1.04 million)
-U.S. Markit manufacturing index:
53.7 (exp. 55.2)
Key Event Calendar:
|
DATE
|
CANADA
|
U.S.A.
|
|
|
|
|
|
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 1.1549 up to 1.1670, its
highest level since July of 2009 on risk aversion flows stemming from another
plunge in oil prices and Russian ruble weakness. The Russian central bank
announced an interest rate hike from 10.5% up to 17% to try to stem its
currency weakness. Over the past year, the USD has gained 120% on the RUB.
Overnight RUBUSD reached 80, an all-time high before pulling back to 72. Asian
equity markets followed yesterday’s North American markets lower with oil hitting
a new low of $53.64. Volatility has been extremely high with USDJPY falling
from 118 down to 115.57 after having hit a 7 year high of 121.85 just one week
ago. North American markets are erasing yesterday’s losses and oil has bounced
taking USDJPY back up to 117.70. USDCAD has fallen from 1.1655 to 1.1607 before
bouncing to 1.1630 this morning. Currently, the TSX and the DJIA are up 1.30%
and 0.50% respectively. EURCAD is up 0.30% trading between 1.4475 and 1.4644.
GBPCAD is up 0.30% trading between 1.8196 and 1.8399. JPYCAD is up 0.30%
trading between 0.00989 and 0.01008. Gold is down 0.80% trading between $1,187
and $1,223USD/oz, silver is down 4% trading between $15.54 and $16.65USD/oz,
while oil is up 1%, trading between $53.64 and $56.39.
Sources: Reuters, Bloomberg, FXStreet,
RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
0 comments
Post a Comment