​VBCE Daily Foreign Exchange Update for Thursday, August 25, 2016

USDCAD spot rate: 1.2930 - 1.2935 (as at 8:26am PST)

Ranges:

Asia:

1.2912

to

1.2937

Europe:

1.2900

to

1.2940

North America:

1.2917

to

1.2939

Technical Support / Resistance:

S2

S1

R1

R2

1.2760

1.2847

1.2940

1.3048

Key Economic Data Releases:

-US Durable Goods 4.4% (3.5% exp.) -4.2% previous

-US Initial Jobless claims 261K (265K exp.) 262K previous

Key Event Calendar:

Date

Canada

U.S.A.

Aug. 26

GDP Q2, services PMI, Fed Yellen speech, Consumer sentiment index

European stocks saw their biggest fall in three weeks on Thursday and currency markets were noticeably subdued as investors took to sidelines ahead of one of the big global central banker gatherings of the year Currency markets were firmly focused on the annual central banker mountain getaway in Jackson Hole in Wyoming that starts later and will see Federal Reserve chief Janet Yellen speak on Friday. The dollar, which is looking for any signal on whether U.S. interest rates will rise this year, drifted lower at 100.30 yen and to $1.1283 to the euro. The TSX is down 0.07% while the Dow is down 0.036%. EURCAD is up 0.24% trading between 1.4550 and 1.4609. GBPCAD is down 0.23% trading between 1.7036 and 1.7137. JPYCAD is down 0.03% trading between 0.01285 and 0.01287. Gold is down 0.16% trading between $1,318 and $1,327 USD/oz., silver is up 0.22% trading between $18.49 and $18.66 USD/oz., while oil is up 0.66% trading between $46.45 and $47.25 USD/barrel

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

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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.