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.