USDCAD spot rate: 1.3575 - 1.3580 (as at 7:57am PST)
Ranges: | Asia: | 1.3557 | to | 1.3575 |
Europe: | 1.3553 | To | 1.3577 | |
North America: | 1.3564 | to | 1.3582 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.3485 | 1.3550 | 1.3620 | 1.3715 |
Key Economic Data Releases:
- no key data
Event Calendar:
Date | Canada | U.S.A. |
July 6 July 7 July 8 July 9 July 10 | BOC business outlook survey Ivey purchasing managers index Housing starts Housing price index Net employment change, unemployment rate | Markit services / ISM non-manufacturing PMI EIA crude oil stocks change Initial jobless claims Producer price index |
Yesterday, USDCAD initially dropped from 1.3610 down to 1.3560 before climbing to 1.3624. The move above 1.36 coincided with the release of the U.S. Covid-19 data – a new daily record which sent the DJIA 400 pts lower to session lows. The move was short-lived with equity markets rebounding to finish the day with gains while USDCAD eased lower to 1.3560 in late trade. With U.S. markets closed for the July 4th Holiday, market action has been subdued thus far. Positive risk sentiment in Asia kept USDCAD anchored near session lows while a deterioration in market sentiment during the London and NA sessions has seen USDCAD move up to session highs. The TSX and the DJIA are down 0.20% and 1% respectively. EURCAD is unchanged near 2 week lows trading between 1.5228 and 1.5269. GBPCAD is unchanged trading between 1.6876 and 1.6935 – near 3 month lows. JPYCAD is unchanged trading between 0.01260 and 0.01263 – near 3 week lows. Gold is unchanged trading between $1,772 - $1,777USD/oz – near an 8 year high. Silver is unchanged holding between $17.94 - $18.06. Oil (WTI crude) is down 0.33% trading between $39.90 - $40.54, holding near 4 month highs.