​VBCE Daily Foreign Exchange Update for Friday, Dec. 30, 2016

USDCAD spot rate: 1.3425 - 1.3430 (as at 7:50am PST)

Ranges:

Asia:

1.3460

to

1.3508

Europe:

1.3460

to

1.3498

North America:

1.3422

to

1.3479

Technical Support / Resistance:

S2

S1

R1

R2

1.3350

1.3420

1.3510

1.3560

Key Economic Data Releases:

- U.S. Chicago purchasing managers index: 54.6 (exp. 57.0 / prev. 57.6)

Key Event Calendar:

Date

Canada

U.S.A.

Jan. 2

Jan. 3

Jan. 4

Jan. 5

Jan. 6

Holiday

RBC manufacturing PMI

Net employment change, unemployment rate, trade balance

Holiday

ISM manufacturing PMI

ADP employment change

ISM non-manufacturing PMI

Non-farm payrolls, unemployment rate,

Avg hourly earnings, trade balance

Yesterday, USDCAD traded from 1.3561 down to 1.3503 before bouncing back to 1.3560 in early North American trade. From there, USDCAD eased to 1.3481 amidst broad-based USD weakness before bouncing to 1.3508. The USD sell-off continued overnight taking USDCAD to 1.3460. The pairing has eased to its lowest level since Dec. 21st near 1.3400 this morning and has shown little signs of reversing course as markets pare positions into year-end. Currently, the TSX and the DJIA are down 0.20% and 0.12% respectively. EURCAD is up 0.20% trading between 1.4151 and 1.4362. GBPCAD is up 0.40% trading between 1.6532 and 1.6646. JPYCAD is down 0.70% trading between 0.01150 and 0.01161. Gold is down 0.10% trading between $1,156 and $1,163USD/oz., silver is down 0.36% trading between $16.11 and $16.27USD/oz., while oil is down 0.25% trading between $53.44 and $54.06.

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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.