​VBCE Daily Foreign Exchange Update for Monday, November 7, 2016

USDCAD spot rate: 1.3390 - 1.3395 (as at 8:38am PST)

Ranges:

Asia:

1.3343

to

1.3400

Europe:

1.3383

to

1.3419

North America:

1.3369

to

1.3405

Technical Support / Resistance:

S2

S1

R1

R2

1.3260

1.3305

1.3466

1.3500

Key Economic Data Releases:

- U.S. Labour market condition index: 0.7 / prev. 0.1

Key Event Calendar:

Date

Canada

U.S.A.

Nov. 8

Nov. 9

Nov. 10

Nov. 11

Housing starts, building permits

New housing price index

Remembrance Day

U.S. presidential election

EIA crude oil stocks change

Initial jobless claims

Veterans Day

The election campaign served up one more twist yesterday when FBI Director James Comey sent another letter to Congress stating that an investigation of the emails found on Anthony Weiner's laptop wouldn't prompt the organization to change its July conclusion that Clinton had committed no crime in her handling of emails while Secretary of State. Comey's initial letter informing Congress 11 days before the election that the FBI was conducting a review of newly discovered emails breathed new life into Trump's candidacy, at a time most polls showed Clinton with a bigger lead. The recent FBI decision on Sunday brings a positive burst of news for Clinton in the campaign's critical home stretch. The final Bloomberg Politics national poll has Clinton leading Trump by 3 percentage points, 44 percent to 41 percent, when third party candidates are included. With Election Day tomorrow, investors will not have to wait long to see if the second letter has helped unwind that damage. Currently, the TSX is up 0.78% and the Dow is up 1.66%. EURCAD is down 0.72% trading between 1.4731 and 1.4935. GBPCAD is down 0.76% trading between 1.6566 and 1.6780. JPYCAD is down 1.32% trading between 0.01276 and 0.01295. Gold is down 1.82% trading between $1,280 and $1,295USD/oz., silver is down 1.62% trading between $18.11 and $18.41USD/oz., while oil is up 0.42% trading between $44.11 and $44.96.

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.