VBCE Daily Foreign Exchange Update for Monday, Nov.14, 2016
USDCAD spot rate: 1.3570 - 1.3575 (as at 8:21am PST)
Ranges: | Asia: | 1.3527 | to | 1.3566 |
Europe: | 1.3539 | to | 1.3588 | |
North America: | 1.3550 | to | 1.3575 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.3425 | 1.3476 | 1.3608 | 1.3650 |
Key Economic Data Releases:
- No data releases
Key Event Calendar:
Date | Canada | U.S.A. |
Nov. 15 Nov. 16 Nov .17 Nov. 18 | Manufacturing shipments Consumer price index | Retail sales Building permits, housing starts, Initial jobless claims |
This morning, the yield on the US 30 year treasury rose to 3% for the first time since January, as the global bond rout that followed Donald Trump's victory in the US presidential election continues apace. Long-dated bonds are also getting hit hardest on Europe, with Italy's 50-year among the biggest losers. The jump yields may be a message to the president-elect from the bond market on his plan to expand public debt to fund infrastructure investment, with the moves serving as a reminder of how bond vigilantes famously curtailed Bill Clinton's spending plans during his first term. Goldman Sachs Group Inc has warned that Trump's policies risk pushing the US economy into a period of stagflation. Currently, the TSX is down 0.13% and the Dow is unchanged. EURCAD is down 1% trading between 1.4525 and 1.4696. GBPCAD is down 0.83% trading between 1.6885 and 1.7075. JPYCAD is down 1.35% trading between 0.01251 and 0.01269. Gold is down 1.06% trading between $1,211 and $1,231USD/oz., silver is down 3.96% trading between $16.65 and $17.50USD/oz., while oil is down 1.05% trading between $42.58 and $43.56.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group