​VBCE Daily Foreign Exchange Update for Tuesday, Oct. 25, 2016

USDCAD spot rate: 1.3345 - 1.3350 (as at 7:42am PST)

Ranges:

Asia:

1.3290

to

1.3363

Europe:

1.3308

to

1.3352

North America:

1.3315

to

1.3360

Technical Support / Resistance:

S2

S1

R1

R2

1.3200

1.3285

1.3365

1.3400

Key Economic Data Releases:

- U.S. consumer confidence 98.6 (101.0 exp.) 103.5 previous

- U.S. Housing price index .7% (.5% exp.) .5% previous

Key Event Calendar:

Date

Canada

U.S.A.

Oct. 26

Oct. 27

Oct. 28

Services PMI, oil inventories, new home sales

Durable goods, pending home sales

GDP Q3, GDP price index, consumer sentiment

The S&P 500 hit a two-week high on Monday, helped by strong earnings, while a flurry of acquisitions indicated corporate America continues to see untapped value in the market. Global stocks were also higher on Tuesday as upbeat economic data and signs of a revival in inflation pushed up stocks and commodity prices and kept the US dollar at a nine-month high. Europe had been cheered as Germany's Dax hit its highest level of the year after the closely-watched Ifo survey beat expectations a day after purchasing manager numbers had done the same. The big loser on the day so far is the GBP Pound down over 1% on fresh Brexit uncertainty. Currently, the TSX is down 0.09% and the Dow is up 0.06%. EURCAD is down 0.20% trading between 1.4468 and 1.4530. GBPCAD is down 1.15% trading between 1.6127 and 1.6325. JPYCAD is down 0.35% trading between 0.01272 and 0.01281. Gold is up 0.30% trading between $1,262 and $1,270USD/oz., silver is up 0.74% trading between $17.52 and $17.79USD/oz., while oil is down 0.23% trading between $50.17 and $50.91.

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.