​VBCE Daily Foreign Exchange Update for Tuesday, June 21, 2016

USDCAD spot rate: 1.2815 - 1.2820 (as at 7:58am PST)

Ranges:

Asia:

1.2783

to

1.2826

Europe:

1.2763

to

1.2789

North America:

1.2771

to

1.2827

Technical Support / Resistance:

S2

S1

R1

R2

1.2692

1.2730

1.2856

1.2926

Key Economic Data Releases:

-No data release

Key Event Calendar:

Date

Canada

U.S.A.

June 22

June 23

June 24

Retail sale

Housing price index, existing home sales, oil inventories

Manufacturing PMI, new home sales

Durable goods orders, consumer sentiment index

Another day and more Brexit polls released. This time we have 2 that favour the "Stay" camp and one that favours the "Leave" camp. The pound continues this week's gains, reaching a seven week high versus the US dollar. With only a few days left before the vote, traders are placing their bets on the Brexit results, and it looks like the play is "Stay". Fed Chairman Yellen has just wrapped up her comments and overall they were seen as more dovish on future interest rate hikes. She raised concerns that forces holding down growth and interest rates may be long lasting. Currently, the TSX is down 0.28% while the Dow is up .10%. EURCAD is down 0.27% trading between 1.4411 and 1.4517. GBPCAD is up .16% trading between 1.8729 and 1.8880. JPYCAD is down .59% trading between 0.01221 and 0.01235. Gold is down 1.66% trading between $1,266 and $1,294USD/oz., silver is down 1.21% trading between $17.19 and $17.58 USD/oz., while oil is down .18% trading between $48.88 and $49.93USD/barrel

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive

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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.