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

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

Technical Support / Resistance:

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:

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