​VBCE Daily Foreign Exchange Update for Thursday, Sept. 15, 2016

USDCAD spot rate: 1.3170 - 1.3175 (as at 8:27am PST)

Ranges:

Asia:

1.3185

to

1.3216

Europe:

1.3172

to

1.3235

North America:

1.3158

to

1.3182

Technical Support / Resistance:

S2

S1

R1

R2

1.3075

1.3155

1.3235

1.3340

Key Economic Data Releases:

- US PPI 0% (.1% exp.) -.4% previous

- US Retail sales -.3% (-.1%) .1%

- US current acct Q2 -119.9B (-120.5B exp.) -131.8B previous

- US Initial Jobless Claims 260K (265K exp.) 259k previous

Key Event Calendar:

Date

Canada

U.S.A.

Sept. 16

Manufacturing sales

CPI, consumer sentiment index

World stocks steadied at two month lows, though bond markets stayed firmly in the red, as eight years on from the collapse of Lehman Brothers some of Europe's top central banks prepared to keep their interest rates pointing down.The dollar was little changed after initially turning lower on the sales data. Sterling slid after the Bank of England said another rate cut this year is possible. Oil erased gains to fall back below $44 a barrel. The Canadian dollar has recovered all of the days earlier losses and is now sitting in positive territory. Currently the TSX is up 0.58% while the Dow is up 0.354%. EURCAD is down 0.27% trading between 1.4794 and 1.4873. GBPCAD is down 0.52% trading between 1.7371 and 1.7525. JPYCAD is down 0.32% trading between 0.01284 and 0.01294. Gold is down 0.76% trading between $1,309 and $1,328USD/oz., silver is up 0..04% trading between $18.83 and $19.21USD/oz., while oil is down 0.25% trading between $43.29 and $44.19.

Sources: Reuters, Bloomberg, Street, 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.