Technical Support / Resistance:
Key Economic Data Releases:
- CAD Employment Change -0.7k (5k exp.) 13.8k prev
- CAD Unemployment rate 6.8 % (7.00%) 6.9% prev.
- US Non Farm Payrolls 287k (175K exp.) 11k (revised downward prev.)
- US Unemployment rate 4.9% (4.8% exp.) 4.7% prev.
Key Event Calendar:
Date Canada USA
|July 13||Bank of Canada interest rate announcement|
|New housing price index|
PPI, initial jobless claims
Manufacturing Shipments CPI, Cap, Utilizaoin, Business Inv. Michigan consumer statement
After having been dominated by Brexit news the past few weeks we finally have a return to North American News driving the markets. A combination of extremely strong job numbers from the US and weak numbers out of Canada has left the Canadian dollar battered and is currently the weakest of the major currencies this morning. The markets are in the black so far, ending the week in positive territory. All eyes will be on next Wednesday's Bank of Canada Interest Rate announcement to see what effect Brexit will have on the Canadian domestic economy. Currently, the TSX is up 1.11% while the Dow is 0.91%. EURCAD is up 0.38% trading between 1.4341 and 1.4467. GBPCAD is up 0.72% trading between 1.6752 and 1.6935. JPYCAD is up 0.59% trading between 0.01288 and 0.01298. Gold is down 0.34% trading between $1,335 and $1,370USD/oz., silver is up 0.86% trading between $19.23 and $20.09 USD/oz., while oil is down 0.44% trading between $44.80 and $45.94USD/barrel
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive