USDCAD spot rate: 1.3050 - 1.3055 (as at 8:57am PST)
Ranges: | Asia: | 1.3103 | to | 1.3134 |
Europe: | 1.3101 | to | 1.3136 | |
North America: | 1.3084 | to | 1.3100 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2979 | 1.3029 | 1.3090 | 1.3138 |
Key Economic Data Releases:
-US Factory Orders -1.5% (-1.8% exp.) -1.2% previous
-US Initial Jobless Claims 269k (265k exp.) 266K previous
Key Event Calendar:
Date | Canada | U.S.A. |
Aug. 5th | Unemployment rate, Net Employment change, trade balance | Non Farm payrolls, Unemployment rate, Trade Balance |
UK interest rates have been cut from 0.5% to 0.25% and the Bank of England has signaled that they could go lower if the economy worsens. The Bank announced a range of measures to stimulate the UK economy, including a £100bn scheme to force banks to pass on the low interest rate to households and businesses.
It will also buy £60bn of UK government bonds and £10bn of corporate bonds. Governor Mark Carney said there was scope to cut the interest rate further. As a result the pound dropped dramatically. North American news was muted but the Canadian dollar is up 1/3 of a cent against the USD so far this morning. The TSX is down 0.09% while the Dow is down 0.09%. EURCAD is down 0.25% trading between 1.4519 and 1.4579. GBPCAD is down 1.59% trading between 1.7105 and 1.7453. JPYCAD is up 0.04% trading between 0.01287 and 0.01293. Gold is up 0.37% trading between $1,349 and $1,366USD/oz., silver is down 0.31% trading between $20.06and $20.52 USD/oz., while oil is down 1.13% trading between $40.46 and $41.38USD/barrel
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive