USDCAD spot rate: 1.3220 - 1.3225 (as at 8:20am PST)
Technical Support / Resistance:
Key Economic Data Releases:
- U.S. services PMI 51.9 ( 51.1 exp.) 51.00 previous
- U.S. Consumer Confidence 104.1 (99.0 exp.) 101.80 previous
Key Event Calendar:
Durable goods orders, Crude oil inventories
GDP Q2, GDP price index, pending home sales
Personal income/spending, Chicago PMI, consumer sentiment
World shares swung higher and the Mexican peso surged more than two per cent on Tuesday, as investors awarded the first U.S. presidential debate to Democrat Hillary Clinton over Republican Donald Trump.
Markets have tended to see Clinton as the candidate of the status quo, while few are sure what a Trump presidency might mean for U.S. foreign policy, international trade deals or the domestic economy.
Snap polls after the debate suggested Clinton had bolstered her chances. For markets the clear winner was the Mexican peso. It surged 2.3 per cent having hit an all-time trough in recent days on concerns that a Trump presidency would threaten Mexico's exports to the United States, its single biggest market. The Canadian dollar was whipsawed after Bank of Canada Governor Poloz said that it would take 3-5 years for the Canadian economy to recover from the current oil price shock. Currently, the TSX is down 0.62% and the Dow is up 0.44%. EURCAD is down 0.37% trading between 1.4804 and 1.4925. GBPCAD is up 0.20% trading between 1.7090 and 1.7226. JPYCAD is up 0.01% trading between 0.01304 and 0.01325. Gold is down 0.21% trading between $1,326 and $1,339USD/oz., silver is down 1.00% trading between $19.20 and $19.53USD/oz., while oil is down 2.05% trading between $44.58 and $45.93.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group