VBCE Daily Foreign Exchange Update for Monday, Jan. 12th, 2015
USDCAD spot rate: 1.1923 - 1.1928 (AS AT 8:07AM PST)
RANGES:
|
Asia:
|
1.1836
|
to
|
1.1865
|
Europe:
|
1.1840
|
to
|
1.1886
|
|
North America:
|
1.1878
|
to
|
1.1938
|
Technical Support / Resistance:
S2
|
S1
|
R1
|
R2
|
1.1671
|
1.1800
|
1.1984
|
1.2200
|
Key Economic Data Releases:
-U.S. labour market conditions index: 6.1 (prev.
5.5)
Key Event Calendar:
DATE
|
CANADA
|
U.S.A.
|
Jan. 13
|
||
Jan. 14
|
Retail sales, business inventories
|
|
Jan. 15
|
Initial jobless claims, producer price index
|
|
Jan. 16
|
CPI, industrial production, consumer sentiment
|
On Friday, USDCAD traded from 1.1805 up to 1.1890 before
easing to close the week at 1.1866. The USD and the CAD were the worst
preforming currencies on Friday. Although the U.S. added more jobs than
expected including a large revision to November’s data, many of the jobs were
of the lower paying / part-time quality. On the other hand, Canada added 53,300
full time jobs while losing 57,700 part time jobs. Overnight during the Asian
session, USDCAD eased lower to 1.1836 on broad-based USD weakness. The pairing
reversed course testing Friday’s post-employment data high during the London
session. With oil losing nearly another 5% today, USDCAD has broken above
1.1900 and has made gains to 1.1940, its highest level in 5.5 years. Currently,
the TSX and the DJIA are down 1.34% and 0.25% respectively. EURCAD is up 0.35%
trading between 1.4004 and 1.4116. GBPCAD is up 0.50% trading between 1.7925
and 1.8080. JPYCAD is up 0.45% trading between 0.00996 and 0.01007. Gold is up
1% trading between $1,217 and $1,231USD/oz, silver is up 0.71% trading between
$16.43 and $16.68USD/oz, while oil is down nearly 5%, trading between $45.93
and $48.24.
Sources: Reuters, Bloomberg, FXStreet,
RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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