​VBCE Daily Foreign Exchange Update for Thursday, Oct. 20, 2016

USDCAD spot rate: 1.3205 - 1.3210 (as at 7:12am PST)

Ranges:

Asia:

1.3120

to

1.3163

Europe:

1.3141

to

1.3180

North America:

1.3158

to

1.3213

Technical Support / Resistance:

S2

S1

R1

R2

1.3045

1.3100

1.3215

1.3279

Key Economic Data Releases:

- Philly Fed mfg. 9.7 (5.3 exp.) 12.8 previous

- U.S. Initial Jobless Claims 260K (250k exp.) 247k previous

Key Event Calendar:

Date

Canada

U.S.A.

Oct. 21

CPI, retail sales

Stock markets inched higher but the Mexican peso was mixed after the third and final U.S. presidential debate, which was judged to have given no clear boost to Donald Trump's hopes of winning the White House. The peso is seen as the chief proxy for market pricing of the Republican candidate's chances in view of his promises to impose tough limits on immigration. It climbed to a six-week high against the dollar in the immediate aftermath of the debate but was down on the day in European trade. A win for Democrat Hillary Clinton next month - now predicted clearly by polls - is also seen as opening the way for a rise in interest rates which a number of U.S. Federal Reserve policy makers have all but promised for December. New York Fed President William Dudley overnight gave one of the clearest signals yet that the world's largest economy is ready to take another step away from the ultra-low interest rates that have prevailed since the 2008 financial crash. The TSX is down 0.32% and the Dow is up 0.08%. EURCAD is up 0.32% trading between 1.4400 and 1.4574. GBPCAD is up 0.21% trading between 1.6100 and 1.6177. JPYCAD is up 0.14% trading between 0.01267 and 0.01274. Gold is up 0.01% trading between $1,268 and $1,274USD/oz., silver is down 0.18% trading between $17.60 and $17.74USD/oz., while oil is down 1.10% trading between $50.78 and $51.80.

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.