USDCAD spot rate: 1.1630 - 1.1635 (AS AT 8:20AM PST)
|
RANGES:
|
Asia:
|
1.1579
|
to
|
1.1615
|
|
|
Europe:
|
1.1600
|
to
|
1.1637
|
|
|
North America:
|
1.1617
|
to
|
1.1646
|
Technical Support / Resistance:
|
S2
|
S1
|
R1
|
R2
|
|
1.1465
|
1.1567
|
1.1667
|
1.1700
|
Key Economic Data Releases:
-U.S. existing home sales: 4.93 million (exp. 5.25 million)
-U.S. existing homes sales %
change: -6.1% (exp. 0.8%)
Key Event Calendar:
|
DATE
|
CANADA
|
U.S.A.
|
|
|
|
|
|
Dec. 23
|
GDP
|
Durable goods, GDP, consumer sentiment
|
|
Dec. 24
|
|
Initial jobless claims
|
|
Dec. 25
|
Christmas Day
|
Christmas Day
|
|
Dec. 26
|
Boxing Day
|
|
On Friday, USDCAD traded from 1.1567 up to 1.1633 before
easing back to 1.1600. Canadian Inflation was softer than expected while retail
sales were better than expected. Overnight, the pairing dipped to 1.1579 before
climbing to session highs at 1.1646 this morning. In the absence of any key
economic data, the CAD appears to be tracking oil which has fallen $3 from its
overnight high of $58.50. Currently, the TSX is down 0.13% while the DJIA is up
0.43%. EURCAD is up 0.50% trading between 1.4163 and 1.4279. GBPCAD is up 0.35%
trading between 1.8090 and 1.8198. JPYCAD is unchanged trading between 0.00967
and 0.00972. Gold is down 0.79% trading between $1,185 and $1,203USD/oz, silver
is down 0.20% trading between $15.64 and $16.16USD/oz, while oil is down 2.30%,
trading between $55.49 and $58.50.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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