VBCE Daily FX Report July 7 2016

USDCAD spot rate: 1.2935 - 1.2940 (as at 8:09am PST)

Ranges:

Asia:

1.2945

to

1.2985

Europe:

1.2909

to

1.2952

North America:

1.2877

to

1.2944

Technical Support / Resistance:

S2

S1

R1

R2

1.2704

1.2764

1.2916

1.3082

Key Economic Data Releases:

-

Canadian Building Permits -1.9% (2.1% exp.)

/ 0.1% prev

-

Canadian Ivey PMI 51.7 (50.2 exp.)

/ 49.4 prev

-

US ADP Employment Change 172k (159k exp.) / 168 prev

-

US Initial jobless claims 254k (270 exp.)

/ 270k prev


Key Event Calendar:

Date

Canada

U.S.A.




July 8

Employment change, participation

Unemployment rate, Nonfarm payrolls

rate, unemployment rate

Global stocks rebounded from the lowest levels in a week, crude climbed toward $48 a barrel and Treasuries fell with gold as investors shifted back toward risk assets before tomorrow's crucial U.S. payrolls report. The S&P 500 Index edged toward its highest level since Britain's vote to secede from the European Union, reducing its post-Brexit slide to less than 0.5 percent. The Stoxx Europe 600 Index gained for the first time this week. Emerging markets rose and the dollar fell amid a subdued outlook for higher U.S. rates. Treasuries retreated, while gold halted a rally. Currently, the TSX is down 0.29% while the Dow is down 0.08%. EURCAD is down 0.39% trading between 1.4288 and 1.4389. GBPCAD is down 0.09% trading between 1.6697 and 1.879. JPYCAD is up 0.47% trading between 0.01276 and 0.01288. Gold is down 0.66% trading between $1,351 and $1,371USD/oz., silver is down 2.30% trading between $19.47 and $20.27 USD/oz., while oil is down 2.1% trading between $46.82 and $48.23USD/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.