​VBCE Daily Foreign Exchange Update for Thursday Sept. 8 , 2016

USDCAD spot rate: 1.2925 - 1.2930 (as at 8:52am PST)

Ranges:

Asia:

1.2866

to

1.2887

Europe:

1.2851

to

1.2883

North America:

1.2860

to

1.2935

Technical Support / Resistance:

S2

S1

R1

R2

1.2810

1.2850

1.2940

1.2995

Key Economic Data Releases:

-Canadian Building Permits 0.8% (3.0%) -5.3%

-US Initial Jobless Claims 259k (265K) 263k

Date

Canada

U.S.A.

Sept. 9

Housing starts, net employment change, Unemployment rate

Bonds declined with stocks while the euro strengthened after the European Central Bank downplayed the need for more economic stimulus. Debt markets around the world slumped after ECB President Mario Draghi said policy makers haven't discussed an extension to their bond-buying program. Global equities halted a five-day advance while the S&P 500 Index retreated from near record levels. The main remaining risk event today is the release of the EIA Crude Oil stocks, which will be out shortly.The TSX is down 0.25% while the Dow is down 0.30%. EURCAD is up 0.52% trading between 1.4477 and 1.4612. GBPCAD is up 0.06% trading between 1.7153 and 1.7214. JPYCAD is up 0.24% trading between 0.01265 and 0.01271. Gold is up 0.02% trading between $1,341 and $1,349 USD/oz., silver is down 0.13% trading between $19.69 and $19.94 USD/oz., while oil is down 0.24% trading between $45.81 and $46.55 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.