VBCE Daily Foreign Exchange Update for Friday, Jan. 16th, 2015
USDCAD spot rate: 1.1970 - 1.1975 (AS AT 8:00AM PST)
|
RANGES:
|
Asia:
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1.1955
|
to
|
1.1984
|
|
|
Europe:
|
1.1961
|
to
|
1.1999
|
|
|
North America:
|
1.1966
|
to
|
1.2046
|
Technical Support / Resistance:
|
S2
|
S1
|
R1
|
R2
|
|
1.1733
|
1.1800
|
1.2046
|
1.2200
|
Key Economic Data Releases:
-U.S. consumer price index
m/m: -0.4% (exp. -0.4%) y/y: 0.8% (exp. 0.7%)
-U.S. CPI ex food & energy m/m: 0.0% (exp. 0.1%) y/y: 1.6% (exp. 1.7%)
-U.S. industrial production: -0.1% (exp. 0.0%)
-U.S. consumer sentiment index: 98.2 (exp. 94.1)
- U.S. producer price index m/m: -0.3% (exp. -0.4%) y/y: 1.1% (exp. 1.0%)
-U.S. CPI ex food & energy m/m: 0.0% (exp. 0.1%) y/y: 1.6% (exp. 1.7%)
-U.S. industrial production: -0.1% (exp. 0.0%)
-U.S. consumer sentiment index: 98.2 (exp. 94.1)
- U.S. producer price index m/m: -0.3% (exp. -0.4%) y/y: 1.1% (exp. 1.0%)
Key Event Calendar:
|
DATE
|
CANADA
|
U.S.A.
|
|
|
|
|
|
Jan. 19
|
Net foreign securities transactions
|
Martin Luther King Day
|
|
Jan. 20
|
Manufacturing shipments
|
|
|
Jan. 21
|
Bank of Canada interest rate
|
Building permits, housing starts
|
|
Jan. 22
|
|
Jobless claims, housing price index
|
|
Jan. 23
|
CPI, retail sales
|
Markit mfg PMI, existing home sales
|
Yesterday, USDCAD traded from 1.1940 up to 1.1994 before
falling to 1.1803. Oil continued its 3rd day of gains reaching $51.44 in the
immediate after-math of the Swiss National Bank announcement. Markets were
taken by surprise when the SNB removed its 3 year old cap of 1.20 for EURCHF.
In one of the most volatile days on record, oil dropped back to $46 within
hours of reaching $51.44 and USDCAD quickly bounced back above 1.1900 reaching
1.1970 in late North American trade. The pairing broke above 1.20 this morning
making gains to 1.2046 before falling back to 1.2005. A 2ND attempt higher stalled at 1.2030 as oil
made gains to $48 and USDCAD dropped back to 1.1970. The worst performing
currency is the EURO for the 2ND straight
day with EURUSD reaching an 11 year low. Currently, the TSX is up 1.14% while
the DJIA is unchanged. EURCAD is down 1.2% trading between 1.3755 and 1.3964.
GBPCAD is down 0.35% trading between 1.8090 and 1.8279. JPYCAD is down 1.15%
trading between 0.01017 and 0.01033. Gold is up 1% trading between $1,255 and
$1,278USD/oz, silver is up 2.53% trading between $16.90 and $17.60USD/oz, while
oil is up 2.55%, trading between $45.99 and $48.79.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets,
Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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