USDCAD spot rate: 1.1342 - 1.1347 (AS AT 8:00AM PST)
RANGES:
|
Asia:
|
1.1309
|
to
|
1.1326
|
Europe:
|
1.1303
|
to
|
1.1328
|
|
North America:
|
1.1299
|
to
|
1.1349
|
Technical Support / Resistance:
S2
|
S1
|
R1
|
R2
|
1.1210
|
1.1280
|
1.1400
|
1.1440
|
Key Economic Data Releases:
-U.S. initial jobless claims: 290k (exp. 280k)
Key Event Calendar:
DATE
|
CANADA
|
U.S.A.
|
Nov. 14
|
Manufacturing shipments
|
Retail sales, consumer sentiment
|
Yesterday, USDCAD traded from 1.1359 down to 1.1280, its
lowest level in 10 days before bouncing to 1.1323. Overnight, USDCAD remained
confined to a 1.1303 – 1.1328 range. The pairing opened this morning’s session
at 1.1311, dipped briefly to 1.1299, and then climbed to 1.1349. This level has
held thus far and USDCAD has since eased to 1.1342. It is very light on the
economic data front and despite a surprise decline in U.S. oil inventories
(-1.7 million barrels vs. exp. + 700k) oil prices have fallen 2% and now trade
near a 3 year low at $75.19. Tomorrow, Canadian manufacturing shipments are
expected to rebound by 1.1% after contracting 3.3% the previous month. U.S.
retail sales are expected to rebound by 0.2% after a surprise 0.3% decline the
previous month. Currently, the TSX is down 0.11% while the DJIA is up 0.44%.
EURCAD is up 0.50% trading between 1.4069 and 1.4170. GBPCAD is unchanged
trading between 1.7804 and 1.7868. JPYCAD is unchanged trading between 0.00978
and 0.00981. Gold is unchanged trading between $1,154 and $1,168USD/oz, silver
is unchanged trading between $15.57 and $15.79USD/oz, while oil is down 2%,
trading between $75.18 and $77.13.
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
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representation or warranty, express or implied, is made by VBCE as to its
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