USDCAD spot rate: 1.2815 - 1.2820 (as at 8:27am PST)
Ranges: | Asia: | 1.2779 | to | 1.2812 |
Europe: | 1.2758 | to | 1.2788 | |
North America: | 1.2758 | to | 1.2823 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2692 | 1.2730 | 1.2856 | 1.2926 |
Key Economic Data Releases:
-Canada Retail Sales (MoM Apr) 1.3% (exp 0.9%) -0.8% prev
-US Housing Price Index (MoM Apr) 0.2% 0.8% prev
-US Existing Home Sales (MoM May) 2.53M (exp 5.54M) 5.43M prev
-EIA Crude Oil Stocks -0.917M (exp -1.671M) -0.933M prev
Key Event Calendar:
Date | Canada | U.S.A. |
June 23 June 24 | Manufacturing PMI, new home sales Durable goods orders, consumer sentiment index |
The USD/CAD continues to trade within a very tight range so far this week, with a low of 1.2742 and high of 1.2851. Tomorrow is the BREXIT vote and polls continue to show a very tight race between the leave and stay campaign, with a slight edge going to the stay. Investors have been piling their money into bets for a stay victory. The GBP has surged to a 5 month high. Currently, the TSX is up 0.14% while the Dow is up 0.44%. EURCAD is up 0.27% trading between 1.4383 and 1.4481. GBPCAD is up 0.13% trading between 1.8716 and 1.865. JPYCAD is down 0.13% trading between 0.01219 and 0.01226. Gold is down 0.21% trading between $1,261 and $1,270USD/oz., silver is up 0.15% trading between $17.12 and $17.31 USD/oz., while oil is down 0.96% trading between $49.59 and $50.51USD/barrel
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive