USDCAD spot rate: 1.2840 - 1.2845 (as at 7:35am PST)
Ranges: | Asia: | 1.2912 | to | 1.2937 |
Europe: | 1.2900 | to | 1.2940 | |
North America: | 1.2851 | to | 1.2939 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2760 | 1.2835 | 1.2940 | 1.3048 |
Key Economic Data Releases:
-US ISM non-mfg PMI 51.4 (55.0 exp.) 55.5 previous
-US economic optimism 46.7 (55.0 exp.) 55.5 previous
Key Event Calendar:
Date | Canada | U.S.A. |
Sept. 7 Sept. 8 Sept. 9 | Ivey PMI, B of Canada Int rate Building Permits, New House price index Housing starts, net employment change, Unemployment rate | Crude Oil Inventories |
World shares closed in on one-year highs on Tuesday as the prospect of prolonged cheap borrowing costs and a recent rise in oil prices set off a new emerging market bull run. The latest advance came as the prospect of a U.S. interest rate rise was pushed back by weak jobs data on Friday. This morning we saw shockingly bad US PMI numbers( the worst in almostb 6 years) hammer the US dollar, and despite a large drop in oil prices the Canadian dollar is much stronger basking in the overall USD weakness. Asian stocks reached one-year highs overnight and MSCI's 46-country 'All World' index was close as most of Europe's markets climbed 0.1 to 0.3 per cent higher. The TSX is up 0.01% while the Dow is down 0.04%. EURCAD is up 0.19% trading between 1.4381 and 1.4438. GBPCAD is up 0.27% trading between 1.7185 and 1.7301. JPYCAD is up 0.52% trading between 0.01246 and 0.01255. Gold is up 0.95% trading between $1,325 and $1,340 USD/oz., silver is up 1.02% trading between $19.48 and $19.73 USD/oz., while oil is down 2.45% trading between $43.88 and $45.59 USD/barrel
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive