​VBCE Daily Foreign Exchange Update for Tuesday, Dec. 20, 2016

USDCAD spot rate: 1.3380 - 1.3385 (as at 7:33am PST)

Ranges:

Asia:

1.3392

to

1.3419

Europe:

1.3402

to

1.3435

North America:

1.3380

to

1.3413

Technical Support / Resistance:

S2

S1

R1

R2

1.3317

1.3380

1.3435

1.3495

Key Economic Data Releases:

-CAD Wholesale sales 1.1% (.6% exp.) -1.2% previous

Key Event Calendar:

Date

Canada

U.S.A.

Dec. 21

Dec. 22

Dec. 23

CPI, retail sales

GDP

Existing home sales, crude oil inventories

Durable goods, GDP Q3, pers. Income / spending

Consumer sentiment, new home sales

The dollar climbed back towards a 14-year high on Tuesday as the yen fell after the Bank of Japan held policy steady and fallout from attacks in Germany and Turkey subdued the euro. European shares were steady, with unease over the attacks balanced by gains by bank shares and the Milan market after Italy's government said it wanted approval for up to €20-billion to rescue troubled lenders. On currency markets, risk aversion sent the safe-haven Swiss franc to a near a six-month high versus the euro and pushed the common currency firmly back below $1.04. But the dollar and rising bond yields again dominated, after the head of the Federal Reserve flagged the strength of the U.S. jobs market in a speech to students on Monday. Currently, the TSX is up 0.24% the DJIA is up 0.42% . EURCAD is down 0.37% trading between 1.3879 and 1.3963. GBPCAD is down 0.74% trading between 1.6488 and 1.6645. JPYCAD is down 0.79% trading between 0.01134 and 0.01145. Gold is down 0.85% trading between $1,125 and $1,139USD/oz., silver is down 1.50% trading between $15.64 and $16.06USD/oz., while oil is up 2.60% trading between $52.87 and $53.71.

083e3d7a6b

Follow us




Follow us on Twitter @vbcefx


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.