​VBCE Daily Foreign Exchange Update for Thursday, Oct. 13, 2016

USDCAD spot rate: 1.3230 - 1.3235 (as at 8:36am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- US Initial Jobless Claims 246k (254k exp.) 246k previous

Key Event Calendar:

World stocks stumbled to three-week lows on Thursday and developed market bond yields dipped, after Chinese data showed a sharp decline in exports, reviving concerns about the health of the world's second-biggest economy. Riskier assets have had a difficult few weeks, undermined by concerns about a potential rise in U.S. interest rates, the outcome of U.S. elections, Britain's departure from the EU and the health of German and Italian banks. The Canadian dollar is holding close to session highs before the release of Oil inventories. Currently, the TSX is up 0.11% and the Dow is down 0.04%. EURCAD is down 0.2% trading between 1.4571 and 1.4654. GBPCAD is up 0.9% trading between 1.6060 and 1.6284. JPYCAD is down 1.27% trading between 0.01273 and 0.01280. Gold is down 0.35% trading between $1,249 and $1,258USD/oz., silver is up 0.16% trading between $17.36 and $17.61USD/oz., while oil is down 1.49% trading between $49.92 and $51.14.

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