USDCAD spot rate: 1.1620 - 1.1625 (AS AT 8:40AM PST)
|
RANGES:
|
Asia:
|
1.1610
|
to
|
1.1640
|
|
|
Europe:
|
1.1616
|
to
|
1.1637
|
|
|
North America:
|
1.1615
|
to
|
1.1667
|
Technical Support / Resistance:
|
S2
|
S1
|
R1
|
R2
|
|
1.1465
|
1.1567
|
1.1667
|
1.1700
|
Key Economic Data Releases:
-Canada GDP: 0.3% (exp. 0.1%)
-U.S. GDP (3RD quarter annualized): 5% (exp. 4.3%)
-U.S. durable goods
orders: -0.7% (exp. 3.0%) ex transportation: -0.4% (exp. 1.0%)
-U.S. GDP price index: 1.4% (exp.
1.4%)
-U.S. housing price index: 0.6%
(prev. 0.0%)
-U.S. new home sales: 0.438
million (exp. 0.472 million) % change: -1.6%
(prev. 0.7%)
-U.S. consumer sentiment index:
93.6 (exp. 89.7)
-U.S. personal income: 0.4% (exp.
0.5%) personal spending: 0.6% (exp. 0.5%)
Key Event Calendar:
|
DATE
|
CANADA
|
U.S.A.
|
|
|
|
|
|
Dec. 24
|
|
Initial jobless claims
|
|
Dec. 25
|
Christmas Day
|
Christmas Day
|
|
Dec. 26
|
Boxing Day
|
|
Yesterday, USDCAD traded from 1.1579 up to 1.1646 before
settling near 1.1630 for the balance of the session. The pairing dipped to
1.1610 overnight before moving up to 1.1630 ahead of the 5:30am Canadian and
U.S. data releases. While the Canadian data was good, it was overshadowed by
the strong U.S. 3RD quarter
GDP sending USDCAD up to 1.1667 amidst broad-based USD strength. This technical
level was tested for the 3RD time
in the past week and the lack of follow-through has sent USDCAD back down to
1.1615/20. Currently, the TSX and the DJIA are up 1% and 0.45% respectively.
EURCAD is down 0.40% trading between 1.4137 and 1.4237. 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.
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