USDCAD spot rate: 1.3205 - 1.3210 (as at 8:10am PST)
Ranges: | Asia: | 1.3223 | to | 1.3260 |
Europe: | 1.3204 | to | 1.3244 | |
North America: | 1.3190 | to | 1.3219 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.3155 | 1.3185 | 1.3270 | 1.3340 |
Key Economic Data Releases:
- U.S. FED Yellen speech 10:00 am pacific
Key Event Calendar:
Date | Canada | U.S.A. |
June 28 June 29 June 30 | GDP, Raw materials / industrial product price index | Pending home sales, goods trade balance GDP Q1, GDP price index Personal income/spending, Chicago PMI, Michigan consumer sentiment index |
Commodity-related shares rebounded on the back of firmer oil and metals prices, helping to limit losses in other sectors, while the dollar eased in anticipation of a possible hint from the Federal Reserve on the timing of an expected rate hike. The Fed's Chair Janet Yellen is scheduled to take part in a discussion in London later on Tuesday. Investors expect her to underline her positive view on the U.S. economy, which would support the Fed's forecast of a rate hike this year. But softer-than-expected U.S. data overnight gave rise to some caution. New orders for key U.S.-made capital goods unexpectedly fell in May and shipments also declined, suggesting a loss of momentum in the manufacturing sector halfway through the second quarter. Her words will be scrutinized for any colour about the timing of the next rate hike against a backdrop of mounting concerns over the inflation outlook. Currently, the TSX is down 0.11% while the DOW is down 0.10%. EURCAD is down 0.22% trading between 1.4801 and 1.4917. GBPCAD is down 0.02% trading between 1.6840 and 1.6890. JPYCAD is down 0.34% trading between 0.01178 and 0.01184. Gold is up 0.12% trading between $1,241 and $1,253USD/oz., silver is up 0.25% trading between $16.54 and $16.70USD/oz., while oil is up 1.00% trading between $43.35 and $43.99.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group