USDCAD spot rate: 1.3341 - 1.3346 (as at 8:02am PST)
Technical Support / Resistance:
Key Economic Data Releases:
- Canada manufacturing shipments: 0.6% (exp -0.4% / prev 2.1%)
- U.S. industrial productions: 0% (exp 0.2% / prev -0.1%)
- U.S. consumer sentiment index: 97.6 (exp 97.0 / prev 96.3)
Yesterday, USDCAD climbed from 1.3276 up to 1.3350 retracing a portion of Wednesday's plunge from 1.3480 down to 1.3280. Overnight, USDCAD eased lower towards the 1.3310 level as oil prices gained to $49 and the USD eased across the board. The pairing tested the 1.3304 level this morning on the back of better than expected Canadian manufacturing sales. The move lower was short-lived as USDCAD has since climbed testing yesterday's 1.3350 high. The USD and the JPY are the best performing currencies this morning as global equity markets struggle to find gains. Currently, the TSX and the DJIA are both down roughly 0.10%. EURCAD is unchanged trading between 1.4287 and 1.4368. GBPCAD is up 0.25% trading between 1.6436 and 1.6523. JPYCAD is up 0.75% trading between 0.01174 and 0.01183. Gold is up 0.16% trading between $1,224 and $1,231USD/oz., silver is up 0.12% trading between $17.24 and $17.39USD/oz., while oil is up 0.12% trading between $48.63 and $49.17.