VBCE Daily FX Report July 4 2016
VBCE Daily Foreign Exchange Update for Monday, July 04, 2016
USDCAD spot rate: 1.2835 - 1.2840 (as at 8:55am PST)
Ranges: | Asia: | 1.2878 | to | 1.2913 |
Europe: | 1.2857 | to | 1.2889 | |
North America: | 1.2842 | to | 1.2868 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2704 | 1.2764 | 1.2916 | 1.3082 |
Key Economic Data Releases:
Key Event Calendar:
Date | Canada | U.S.A. |
July 5 | ||
July 6 | Imports, exports, trade balance | Goods trade balance, services PMI |
July 7 | Building permits, Ivey PMI | Employment change, jobless claims, oil |
inventories | ||
July 8 | Employment change, participation | Unemployment rate, Nonfarm payrolls |
rate, unemployment rate |
As the US celebrates its Independence Day the USD/CAD is trading at a 1 week low. It's been a strong day for the commodities with oil, gold and silver all up. The BREXIT fallout continues to overshadow the GBP while investors look ahead to Friday's job numbers to give insight on the FED's policy outlook. Currently, the TSX is up 1.5% while the Dow is up 0.11%. EURCAD is down 0.55% trading between 1.4293 and 1.4389. GBPCAD is down 0.23% trading between 1.7044 and 1.7160. JPYCAD is down 0.34% trading between 0.01251 and 0.01260. Gold is up 0.73% trading between $1,336 and $1,357USD/oz., silver is up 2.65% trading between $19.68 and $21.13 USD/oz., while oil is down 0.9% trading between $48.76 and $49.33USD/barrel
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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Disclaimer
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.
