Meet Your CSR: Q&A With Brennan S.

 

You might recognize Brennan from VBCE. Perhaps you've had the pleasure of having him serve you right before you took off for one of your eagerly anticipated vacations. Or maybe he provided you advice on how to help you save more money for your business. What you may not know are all the tiny details of why Brenan is so special to all of his co-workers here at VBCE.  In this month's post of 'Meet Your CSR' we asked Brenan a few questions to help you get to know him better!
 

Tell us a little bit about yourself.
I enjoy talking to customers and finding out where they are traveling to so that I can travel there myself one day.

What thoughts come to mind when you tell people you work at VBCE?
We sell gold and silver!  How cool is that?

 

What is your dream destination for a vacation?

Disney World!

 

What extra-curricular activities do you participate in?

I like playing all sports but I currently play Dodge ball and Ultimate Frisbee.
 

Favorite song you would listen to on your dream vacation?
I would love to listen to Mulan's "I'll Make a Man Out of You" in Disney World.

If you could take one person on a dream vacation with you, who would it be?
I would definitely bring my girlfriend along with me.

 

Tell us about a stand out customer that you have previously serviced.
There was one customer I helped that told me he didn't like Christmas.  His reasoning was that he believed everyday should be Christmas not just one specific day.

Give us a forex tip every savvy customer should know.
Try to spend all your coins when you're on vacation. There aren't many places that will buy back coins when you come back.

What is your favorite piece of bullion that you have ever come across?
I really liked the .99999 gold howling wolf from 2014.

What are you currently fascinated in?
I am currently really into playing a variety of different board games and I get pretty competitive as well.

 

 

 

VBCE Daily Foreign Exchange Update for Friday, Feb. 27th, 2015

 

USDCAD remains range bound between 1.2448 - 1.2524

 

USDCAD spot rate: 1.2500 - 1.2505 (AS AT 8:05AM PST)

RANGES:	Asia:	1.2483	to	1.2524
	Europe:	1.2468	to	1.2493
	North America:	1.2448	to	1.2505

Technical Support / Resistance:

S2	S1	R1	R2
1.2350	1.2400	1.2550	1.2660

Key Economic Data Releases:

-U.S. GDP 4TH quarter annualized (2ND reading): 2.2% (exp. 2.1%)

-U.S. core personal consumption expenditure: 1.1% (exp. 1.1%)

-U.S. Chicago purchasing managers index: 45.8 (exp. 58.0)

-U.S. pending home sales: 1.7% (exp. 1.8%)

-U.S. consumer sentiment index: 95.4 (exp. 94.0)

Key Event Calendar:

DATE	CANADA	U.S.A.
Mar. 2	Current account Q4, RBC	Personal income / spending, Markit / ISM
	manufacturing PMI	manufacturing PMI, construction spending
Mar. 3	GDP Q4
Mar. 4	Bank of Canada interest rate	ADP employment, ISM non-mfg PMI
Mar. 5	Ivey purchasing managers index	Jobless claims, factory orders
Mar. 6	Building permits, Int’l merchandise	Non-farm payrolls, unemployment rate, trade
	trade	balance

Yesterday, USDCAD initially added to its weekly gains trading from 1.2446 down to 1.2387 and then erased a good portion of its gains by climbing to 1.2535 during the North American session. Oil was down over 6% at one point but managed to pair about 50% of its losses. Overnight, USDCAD trended lower on broad-based USD weakness reaching 1.2448 ahead of the U.S. GDP data release. Despite a declining trend (3RD quarter GDP was 5%, while the preliminary 4th quarter was 2.6%) the USD recovered some of its earlier losses sending USDCAD back up to 1.2505. With month end flows and continued choppiness, USDCAD has since dipped to 1.2455 followed by a return to 1.2510 despite a 2% rise in oil. The main event risk next week comes Wednesday with the Bank of Canada interest rate policy decision and on Friday with U.S. employment data. Currently, the TSX is up 0.36% while the DJIA is down 0.12%. EURCAD is unchanged trading between 1.3953 and 1.4032. GBPCAD is up 0.20% trading between 1.9191 and 1.9315. JPYCAD is down 0.25% trading between 0.01044 and 0.01050. Gold is up 0.55% trading between $1,205 and $1,219USD/oz, silver is unchanged trading between $16.43 and $16.70USD/oz, while oil is up 2%, trading between $48.69 and $49.51.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive

 

 

 

Allusion of Ever-Present Peril

Flippity-Flop

The highlight of last week was the release of the Fed minutes from the FOMC meeting on January 28th 2015

The FOMC statement from that meeting left a hawkish impression on the market, however, the minutes showed that Fed members were much more cautious, with many members saying they were inclined to stay at zero for longer. Members expressed concern that raising interest rates too soon could pour cold water on the U.S. economic recovery, and fretted over the impact of dropping "patient" from the central bank's rate guidance. Members also grappled with the weakness in international markets as well as worrying about falling inflation expectations in the U.S.

The flippity-flop in terms of the perception of the Fed’s first interest rate increase has had a hand in sidelining the USD as of late. The market will now look towards Fed Chair Janet Yellen’s testimony before Congress next week for insight into what the Fed is thinking. If Yellen comes across as hawkish then the market will expect a rate hike at the June meeting. However, if Yellen takes pains to explain the risks from a prolonged decline in inflation and the uncertainty in the international outlook then the uncertainty in the Fed’s first interest rate hike will continue to dog the USD.

Sword of Damocles

 

Finance ministers from the 19 countries comprising the Euro group has granted Greece a critical 4-month extension to its massive debt bailout so that officials can work out a longer term deal thereby prolonging the state of looming disaster for the shaky economic union. After trading many jabs and insults, it is safe to say that the easy parts of the negotiations are over. The deal won’t go into effect until the various national legislatures around Europe have approved it.

In some countries, particularly the Netherlands and Europe, this will be a tough sell. Understandably, some countries are frustrated at seeing their euros flow into a country whose economy never seems to improve.

The deal will mean that Greece will temporarily avoid going bankrupt as their financial lifeline is extended for 4 months. It should also mean that capital controls will not be needed and that Greek banks will have enough money to stock up their ATM’s. However, to get the money, the Greek government has one more hurdle to clear, which is to present a series of unspecified economic reforms measures that are deemed acceptable by creditors and rooted in Greece's previously enacted bailout agreement – something the government had promised not to do. Greece’s Prime Minister, Alexis Tsipras, now has to sell the Brussels deal and an eventual long-term agreement with the Eurozone not only to voters, but to Syriza's left wing and his junior coalition partner, the right-wing Independent Greeks.

These economic reforms should have been presented at the time of this writing. Notably, the Greek government will be the author of the reforms pursued, which has a rallying cry for the Syriza Party during Greek election campaigning. This represents a change from the past 5 years when Greece has relied on rescue money to avoid going bankrupt and was effectively ordered to enact a series of austerity measures by Berlin and Brussels.

VBCE Daily Foreign Exchange Update for Tuesday, Feb. 24th, 2015

USDCAD volatile in a 1.2552 - 1.2662 range as oil bounces and U.S. Fed pushes back rate hike

 

 

USDCAD spot rate: 1.2565 - 1.2570 (AS AT 8:20AM PST)

RANGES:	Asia:	1.2564	to	1.2610
	Europe:	1.2598	to	1.2662
	North America:	1.2552	to	1.2639

Technical Support / Resistance:

S2	S1	R1	R2
1.2420	1.2550	1.2660	1.2713

Key Economic Data Releases:

-U.S. Markit services PMI: 57.0 (exp. 54.1)

-U.S. consumer confidence: 96.4 (exp. 99.5)

-U.S. Richmond Fed manufacturing index: 0 (exp. 6)

-U.S. Case Shiller home price indices: 4.5% (exp. 4.3%)

-U.S. Fed Yellen speech

-Bank of Canada Poloz speech TBA 11:00am

Key Event Calendar:

DATE	CANADA	U.S.A.
Feb. 25		New home sales
Feb. 26	Consumer price index	CPI, durable goods, jobless claims
Feb. 27		GDP, Chicago PMI, consumer sentiment

Yesterday, USDCAD traded from 1.2523 up to 1.2624 before falling back to 1.2550 as oil popped back above $50 on news regarding a possible emergency OPEC meeting. Oil could not hold above $50 and USDCAD drifted back to hold a 1.2570 – 1.2585 range for the balance of the session. Overnight, USDCAD climbed to 1.2662 as oil dipped below $49. The move higher was short-lived with USDCAD falling to 1.2552 this morning. Oil staged a move back above $50 as Libya shut down its largest oilfield. Also, broad- based USD weakness ensued after U.S. Fed President Yellen confirmed that the Fed would be patient in raising rates and would change their forward guidance before raising interest rates. It appears the most likely scenario now is for a possible hike in July or September. USDCAD has remained choppy having bounced to 1.2588, dipped again to 1.2552, and bounced back to 1.2600. Bank of Canada Governor Poloz will be speaking at 11:00am this morning and he may shed some light as to the Bank’s comfort level with recent Canadian data and the recovery in oil prices. Currently, the TSX and the DJIA are both up 0.41%. EURCAD is unchanged trading between 1.4242 and 1.4331. GBPCAD is unchanged trading between 1.9409 and 1.9556. JPYCAD is down 0.45% trading between 0.01054 and 0.01059. Gold is unchanged trading between $1,190 and $1,204USD/oz, silver is up 0.74% trading between $16.18 and $16.50USD/oz, while oil is up 1.17%, trading between $48.73 and $50.29.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive

 

 

 

Silver Red-Tailed Hawk + Gold Growling Cougar coins now available!

2015 FINE SILVER COIN RED-TAILED HAWK Now Available!

 

 Special Features:

From coast to coast, Canada boasts a remarkable biodiversity – one that includes both prey and predator. With their remarkable agility and
speed, Canada’s birds of pre...y have earned their reputation as formidable hunters – including the red-tailed hawk, which is beautifully showcased in this striking coin.

PRODUCT SPECIFICATIONS:
Mint: Royal Canadian Mint
Item Number: 134672
UPC: 6-23932-05999-3
Composition: 99.99% pure silver
Weight (g)*: 31.39
Diameter (mm): 38
Face Value: 5 dollars (CAN)
Finish: Bullion
Edge: Serrated
Edge Thickness (mm): 3.15
Artist: Emily Damstra

DESIGN:
The reverse design by Canadian artist Emily
Damstra features a red-tailed hawk descending
upon its prey.

 

2015 PURE GOLD COIN – GROWLING COUGAR Now available!

 

 

 

 

 

"Call of the Wild" 3 - Coin Series

Special Features:
...
The second of three coins in the new and exciting annual bullion series from the Royal Canadian Mint featuring the call of the wild.

Rendered in exquisite detail by the Royal Canadian Mint engravers, this coin celebrates the cougar’s growl.

Full 1-ounce 99.999% pure gold coin, the highest recognized level of gold purity, crafted in bullion finish.

Intricately micro-engraved Security Feature in the form of a textured maple leaf design produced by the Mint’s innovative use of laser technology helps to confirm the authenticity of the coin.

An even more secure investment option, this is an attractive acquisition for both first-time precious metal buyers and long-term investors.

Highest face value ($200 CAN) of any legal tender
1 oz. gold bullion coin. 

USDCAD climbs to 1.2624 before easing to 1.2565

VBCE Daily Foreign Exchange Update for Monday, Feb. 23rd, 2015

USDCAD spot rate: 1.2568 - 1.2573 (AS AT 8:18AM PST)

RANGES:	Asia:	1.2523	to	1.2561
	Europe:	1.2549	to	1.2612
	North America:	1.2568	to	1.2624

Technical Support / Resistance:

S2	S1	R1	R2
1.2420	1.2520	1.2625	1.2713

Key Economic Data Releases:

-U.S. existing home sales: 4.82 million (exp. 4.97 million)

-U.S. existing home sales change: -4.9% (exp. -0.8%)

Key Event Calendar:

DATE	CANADA	U.S.A.
Feb. 24	Bank of Canada speech	Markit services PMI, consumer confidence
Feb. 25		New home sales
Feb. 26	Consumer price index	CPI, durable goods, jobless claims
Feb. 27		GDP, Chicago PMI, consumer sentiment

On Friday, USDCAD traded from 1.2498 down to 1.2422 before effectively erasing its weekly gains with a move up to 1.2565 driven by weak Canadian retail sales data. The pairing eased lower to 1.2510 and closed the week near 1.2525. After 3 straight weeks of gains, oil ended lower on the week after several failed attempts to sustain a break above $54/barrel. Also, the Baker Hughes oil rig count declined albeit at a slower pace. Overnight, USDCAD climbed to 1.2612 as oil remained under pressure down as much as 4.5% on the day. The pairing opened the North American session at 1.2587, climbed to 1.2624, and then fell back to 1.2570. Another attempt at 1.2600 failed at 1.2591 and we’ve fallen back to 1.2570 as oil recovers some of its earlier losses. There is speculation that the poor retail sales data could lead to another Bank of Canada interest rate cut on March 4TH. There is a Bank of Canada speech tomorrow that may shed some light as to the Bank’s comfort level with recent Canadian data and the recovery in oil prices. Currently, the TSX and the DJIA are down 0.15% and 0.21% respectively. EURCAD is unchanged trading between 1.4185 and 1.4300. GBPCAD is up 0.70% trading between 1.9276 and 1.9447. JPYCAD is up 0.45% trading between 0.01050 and 0.01060. Gold is unchanged trading between $1,191 and $1,210USD/oz, silver is up 1% trading between $16.11 and $16.62USD/oz, while oil is down 3%, trading between $48.69 and $50.96.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive