VBCE Daily Foreign Exchange Update for Tuesday, Nov. 1, 2016
USDCAD spot rate: 1.3990 - 1.3395 (as at 8:30am PST)
| Ranges: | Asia: | 1.3404 | to | 1.3425 |
| Europe: | 1.3358 | to | 1.3409 | |
| North America: | 1.3354 | to | 1.3395 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.3314 | 1.3350 | 1.3434 | 1.3500 |
Key Economic Data Releases:
- U.S. ISM Manufacturing PMI 51.9 (51.7 exp.) 51.5 previous
- CAD GDP .2% (.2% exp.) .5% previous
Key Event Calendar:
| Date | Canada | U.S.A. |
| Nov. 2 Nov. 3 Nov. 4 | Employment change, Ivey PMI unemployment rate, trade balance | ADP employment, oil inventories, Fed interest rate / FMOC statement ISM non-mfg PMI, factory orders Non-farm payrolls, unemployment rate, Avg hourly earnings, trade balance |
European shares were poised to fall for a seventh straight session while the dollar edged lower with investors largely holding back as the contentious U.S. presidential campaign entered its final week. Earlier in the day, stronger-than-expected manufacturing data from China underpinned gains in Asian stocks and further stoked inflation expectations that drove a selloff in bonds in recent weeks. Trading volumes were light across major exchanges. The dollar was slightly weaker against a basket of currencies with the dollar index down 0.2 per cent. In a busy week for central banks, the Bank of Japan and Reserve Bank of Australia held their policies steady as expected. Currently, the TSX is up 0.33% and the Dow is down 0.06%. EURCAD is up 0.29% trading between 1.4696 and 1.4771. GBPCAD is down 0.30% trading between 1.6326 and 1.6438. JPYCAD is down 0.19% trading between 0.01274 and 0.01282. Gold is up 0.80% trading between $1,275 and $1,289USD/oz., silver is up 0.40% trading between $17.85 and $18.39USD/oz., while oil is up .29% trading between $46.59 and $47.32.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group
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Disclaimer
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.
