USDCAD spot rate: 1.1305 - 1.1310 (AS AT 8:10AM PST)
|
RANGES:
|
Asia:
|
1.1333
|
to
|
1.1359
|
|
|
Europe:
|
1.1314
|
to
|
1.1348
|
|
|
North America:
|
1.1280
|
to
|
1.1323
|
Technical Support / Resistance:
|
S2
|
S1
|
R1
|
R2
|
|
1.1210
|
1.1280
|
1.1400
|
1.1440
|
Key Economic Data Releases:
-U.S. wholesale sales: 0.2% (exp. -0.1%)
-U.S.
wholesale inventories: 0.3% (exp. 0.2%)
Key Event Calendar:
|
DATE
|
CANADA
|
U.S.A.
|
|
|
|
|
|
Nov. 13
|
Bank of Canada review
|
Initial jobless claims
|
|
Nov. 14
|
Manufacturing shipments
|
Retail sales, consumer sentiment
|
Yesterday, USDCAD traded from 1.1380 up to 1.1401 before
falling to 1.1326 in thin trading conditions as Canada and the U.S. observed
Remembrance Day and Veteran’s Day respectively. Overnight, USDCAD climbed to
1.1359 and then eased to 1.1314. The pairing has since fallen to 1.1280/85, its
lowest level since Monday, Nov. 3RD. USDCAD has since bounced to 1.1310 only to fall back and
test the 1.1285 level a 3RD time
this morning. The GBP is the worst performing currency as any chance of an
interest rate hike by the Bank of England is off the table as the inflation
forecast was reduced from 1.9% to 1.2% for this year. GBPCAD has fallen from
1.8076 to 1.7841, its lowest level since early September. Currently, the TSX is
up 0.20% while the DJIA is down 0.38%. EURCAD is down 0.25% trading between
1.4068 and 1.4173. GBPCAD is down 1% trading between 1.7841 and 1.8076. JPYCAD
is up 0.30% trading between 0.00978 and 0.00985. Gold is up 0.13% trading
between $1,160 and $1,170USD/oz, silver down 0.24% trading between $15.58 and
$15.78USD/oz, while oil is down 0.28%, trading between $76.89 and $77.81.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
Please contact the VBCE trading desk at 604-685-1008 for more information on our foreign exchange and wire payment services. Updates by stevebrown@vbce.ca
The
information contained in this report has been compiled by our VBCE
traders from sources believed to be reliable, but no representation or
warranty, express or implied, is made by VBCE as to its accuracy,
completeness or correctness. All opinions and estimates contained in
this report constitute VBCE’s judgment as of the date of this report,
are subject to change without notice and are provided in good faith but
without legal responsibility. Nothing in this report constitutes
legal, accounting or tax advice or individually tailored investment
advice. This material is prepared for general circulation to clients
and has been prepared without regard to the individual financial
circumstances and objectives of persons who receive it. This report is
not an offer to sell or a solicitation of an offer to buy any currency
or precious metals. Past performance is not a guide to future
performance, future returns are not guaranteed, and a loss of original
capital may occur. To the full extent permitted by law neither VBCE
nor any other person, accepts any liability whatsoever for any direct
or consequential loss arising from any use of this report or the
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For foreign currency exchange rates, visit www.vbce.ca/rates/major-currencies
For rates on precious metals, visit www.vbce.ca/rates/precious-metals
For questions, please contact us at info@vbce.ca or 604-685-1008.
#120-800 West Pender Street, Vancouver, BC V6C 2V6
For foreign currency exchange rates, visit www.vbce.ca/rates/major-currencies
For rates on precious metals, visit www.vbce.ca/rates/precious-metals
For questions, please contact us at info@vbce.ca or 604-685-1008.
#120-800 West Pender Street, Vancouver, BC V6C 2V6
