USDCAD unchanged 1.2423 - 1.2478 range in quiet, Holiday trade
USDCAD spot rate: 1.2470 - 1.2475 (AS AT 7:44AM PST)
|
RANGES:
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Asia:
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1.2423
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to
|
1.2458
|
|
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Europe:
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1.2427
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to
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1.2461
|
|
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North America:
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1.2437
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to
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1.2478
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Technical Support / Resistance:
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S2
|
S1
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R1
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R2
|
|
1.2380
|
1.2420
|
1.2535
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1.2658
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Key Economic Data Releases:
- No key data Key Event Calendar
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DATE
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CANADA
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U.S.A.
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|
|
|
|
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Feb. 16
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President’s Day
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Feb. 17
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Net foreign securities transactions
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NY State Mfg., net long-term TIC flows
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Feb. 18
|
Wholesale sales
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Building permits, housing starts, producer
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|
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price index, industrial production
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Feb. 19
|
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Jobless claims, leading indicators,
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|
|
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Philadelphia Fed manufacturing survey
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Feb. 20
|
Retail sales
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Markit manufacturing PMI
|
On Friday, the short-term down-trend / correction in USDCAD
continued with a move from 1.2536 down to 1.2422 on a combination of stronger
oil (+3%) and better than expected Canadian manufacturing shipments. The
pairing bounced to 1.2480 before slipping back towards 1.2445 late in the
session. Yesterday’s Asian session saw the down-trend continue with a move from
1.2458 to 1.2423 – USDCAD holding near the lows for much of the session. The
pairing climbed to 1.2461 in London with a quick move back to 1.2437. Much of
Canada and the U.S. are on holiday today and USDCAD has edged up to 1.2478 in
thin trading. Currently, both the TSX and the DJIA are closed. EURCAD is up
0.35% trading between 1.4155 and 1.4239. GBPCAD is up 0.10% trading between
1.9122 and 1.9209. JPYCAD is up 0.50% trading between 0.01047 and 0.01053. Gold
is up 0.24% trading between $1,227 and $1,237USD/oz, silver is unchanged
trading between $17.28 and $17.42USD/oz, while oil is unchanged, trading
between $52.14 and $53.59.
Sources: Reuters, Bloomberg, FXStreet,
RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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