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

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

Technical Support / Resistance:

Key Economic Data Releases:

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

Key Event Calendar:

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.