USDCAD spot rate: 1.2860 - 1.2865 (as at 9:20am PST)
Ranges: | Asia: | 1.2944 | to | 1.2978 |
Europe: | 1.2920 | to | 1.2977 | |
North America: | 1.2839 | to | 1.2920 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2531 | 1.2725 | 1.3095 | 1.3125 |
Key Economic Data Releases:
- No data release
Key Event Calendar:
Date | Canada | U.S.A. |
June 7 June 8 June 9 June 10 | Ivey Purchasing Managers Index Housing starts, Building Permits Cap. Utilization Q1, New Housing Price Index Unemployment rate, Net change in employment | Non-Farm Productivity Initial Jobless Claims, Wholesale Inventories Michigan Consumer Sentiment Index |
Early shocker to the FX markets was the GBP dropping to a 3 week low after 2 opinion polls over the weekend showed the "leave" campaign ahead in the EU referendum. This is a complete reversal of all previous polls that we have seen to date. Trader and market operators around the world are preparing for the decision which will be held June 23. The main remaining event risk to FX markets today is Fed Chair Yellen's speech in Philadelphia coming up shortly. Economists see Yellen sticking to a non-committal line on the rate hike, but after Friday's terrible job report there are doubts in the markets of any rate increase in the near future. Currently, the TSX is up 0.42% while the DJIA is up 0.65%. EURCAD is down 0.55% trading between 1.4574 and 1.4729. GBPCAD is down 1.0055% trading between 1.8548 and 1.8782. JPYCAD is down 1.4118% trading between 0.01196 and 0.01216 Gold is up 0.16% trading between $1,240 and $1,248USD/oz., silver is up 0.35% trading between $16.36 and $16.53USD/oz., while oil is up 1.79% trading between $48.74 and $49.87.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive