VBCE Daily Foreign Exchange Update for Monday, Nov.14, 2016
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
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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.
