VBCE Daily Foreign Exchange Update for Thursday, June 30, 2016


USDCAD spot rate: 1.2990 - 1.2995 (as at 8:00am PST)

Ranges:

Asia:

1.2931

to

1.2973

Europe:

1.2916

to

1.2997

North America:

1.2927

to

1.2992

Technical Support / Resistance:

S2

S1

R1

R2

1.2826

1.2881

1.3008

1.3082

Key Economic Data Releases:

-CAD GDP (April) .1% (.1% exp) -.2% prev.

-US Chicago PMI 56.8 (50.7 exp.) 49.3 prev.

-US initial Jobless Claims 268K (267K exp.) 258K prev.

Key Event Calendar:

Date

Canada

U.S.A.

July 1

Canada Day

An extremely quiet start to the trading morning so far as markets are taking a pause from the constant Brexit concerns that have buffeted FX trading over the past few weeks. Some news out of China of note is that the Central government has signaled a willingness to let the YUAN fall to lower levels. All China's trading partners will be watching any potential devaluation moves very closely, especially the US as China's currency manipulations have become a major election issue. Canadian markets are close tomorrow for Canada Day. Currently, the TSX is up 1.22% while the Dow is up 0.94%. EURCAD is up 0.24% trading between 1.4343 and 1.4444. GBPCAD is up 0.13% trading between 1.7333 and 1.7478. JPYCAD is up 0.39% trading between 0.01257 and 0.01267. Gold is up 0.01% trading between $1,313 and $1,322USD/oz., silver is up 1.00% trading between $18.20 and $18.51 USD/oz., while oil is down 1.29% trading between $48.59 and $49.59USD/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.