​VBCE Daily Foreign Exchange Update for Tuesday, Oct. 11, 2016

USDCAD spot rate: 1.3225 - 1.3230 (as at 7:32am PST)

Ranges:

Asia:

1.3165

to

1.3210

Europe:

1.3183

to

1.3238

North America:

1.3186

To

1.3234

Technical Support / Resistance:

S2

S1

R1

R2

1.3067

1.3142

1.3250

1.3300

Key Economic Data Releases:

- Canada Housing Starts 220.6k (190.0k exp.) 184.2k previous

Key Event Calendar:

Date

Canada

U.S.A.

Oct. 11

Oct. 12

Oct. 13

Oct. 14

Housing starts

FOMC meeting minutes

Crude oil inventories

Retail sales, producer price index

World shares tapped the brakes on Tuesday as oil prices eased back from their highest level of the year, while Britain's sterling took another dive as UK and EU ministers traded fresh Brexit blows. The US dollar was on the rise again as growing expectations of a U.S. rate hike before the end of the year pushed up Treasury yields to the highest level since early June. Currently, the TSX and the DJIA are down 0.03% and 0.64% respectively. EURCAD is down 0.09% trading between 1.4624 and 1.4708. GBPCAD is down .28% trading between 1.6202 and 1.6283. JPYCAD is up 0.3% trading between 0.01268 and 0.01277. Gold is down 0.38% trading between $1,253 and $1,262USD/oz., silver is down 0.51% trading between $17.46 and $17.82USD/oz., while oil is down 0.02% trading between $50.65 and $51.48.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group

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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.