USDCAD spot rate: 1.2260 - 1.2265 (as at 8:13am PST)
Ranges: | Asia: | 1.2267 | to | 1.2304 |
Europe: | 1.2234 | to | 1.2281 | |
North America: | 1.2241 | to | 1.2267 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2125 | 1.2177 | 1.2310 | 1.2370 |
Key Economic Data Releases:
- U.S. Existing Home sales: 5.35M (exp 5.46M / prev 5.44M)
- U.S. Fed interest rate decision: 11am
Key Event Calendar:
Date | Canada | U.S.A. |
Sept 21 Sept 22 | Wholesale sales CPI, retail sales | Philly Fed manufacturing index Manufacturing PMI, services PMI |
At 11am the Federal Reserve will publish its latest monetary-policy decision. While markets are expecting no change to rates, investors will be looking for details on how the central bank intends to start shrinking its $4.5 trillion balance sheet as well as the so-called dot plot, which indicates the path ahead for interest-rate increases. The announcement will be followed 30 minutes later by a press conference with Chair Janet Yellen. Market futures show a rate hike by the end of the year is seen as a coin flip by investors. Currently, the TSX is up 0.42% while the DOW is down 0.02%. EURCAD is down 0.31% trading between 1.4680 and 1.4759. GBPCAD is up 0.04 trading between 1.6554 and 1.6692. JPYCAD is down 0.09% trading between 0.01097 and 0.01101. Gold is up 0.23% trading between $1,309 and $1,315USD/oz., silver is up 0.21% trading between $17.24 and $17.39USD/oz., while oil is down 0.03% trading between $50.18 and $50.51.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group