​VBCE Daily Foreign Exchange Update for December 23, 2016

Yesterday, USDCAD traded from 1.3410 up to 1.3519 before easing lower to hold near 1.3480 for the balance of the session. Canadian GDP for October was much worse than expected sending USDCAD from 1.3510 up to 1.3557 this morning, just shy of the Nov. 14th high of 1.3588. The pairing pulled back to 1.3530 before retesting the 1.3557 level a 2nd time. USDCAD has since pulled back to 1.3515. The JPY and the EUR are the best preforming currencies today due to the lack of positive risk sentiment as the 20,000 mark for the Dow Jones Industrial Average proves elusive once gain. The CAD and the AUD are the worst performing currencies. Currently, the TSX and the DJIA are relatively flat on the day. EURCAD is up 0.40% trading between 1.4067 and 1.4152. GBPCAD is up 0.15% trading between 1.6522 and 1.6604. JPYCAD is up 0.60% trading between 0.01146 and 0.01155. Gold is up 0.33% trading between $1,128 and $1,134USD/oz., silver is down 0.16% trading between $15.72 and $15.86USD/oz., while oil is down 0.50% trading between $52.29 and $52.80.

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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.