​VBCE Daily Foreign Exchange Update for Thursday, August 11, 2016

USDCAD spot rate: 1.3020 - 1.3025 (as at 8:3745am PST)

Ranges:

Asia:

1.3045

to

1.3080

Europe:

1.3030

to

1.3061

North America:

1.3014

to

1.3059

Technical Support / Resistance:

S2

S1

R1

R2

1.2939

1.2989

1.3085

1.3122

Key Economic Data Releases:

-Canadian New Housing Price Index .1% (.3% exp.) .7% previous

-US Initial Jobless Claims 266k (265K exp.) 267K Previous

Key Event Calendar:

Date

Canada

U.S.A.

Aug. 12

Retail sales, producer price index

World shares hovered close to one-year highs on Thursday and the latest interest rate cut in a developed market – this time New Zealand – got a lukewarm reaction from investors. Currency markets' broader focus remained on whether U.S. interest rates will rise this year, with traders looking ahead to a number of speeches by Federal Reserve officials culminating in Fed Chair Janet Yellen's Aug. 26 address at the Jackson Hole symposium. Currently, oil prices have increased over 2% and are pushing the CAD dollar nominally higher so far this morning The TSX is up 0.23% while the Dow is up 0.30%. EURCAD is down 0.27% trading between 1.4523 and 1.4612. GBPCAD is down 0.43% trading between 1.6893 and 1.7009. JPYCAD is down 0.22% trading between 0.01285 and 0.01292. Gold is up 0.41% trading between $1,340 and $1,352USD/oz., silver is up 0.35% trading between $19.90 and $20.32 USD/oz., while oil is up 2.38% trading between $41.13 and $42.49USD/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.