VBCE Daily FX Report August 15 2016
VBCE Daily Foreign Exchange Update for Monday August 15, 2016
USDCAD spot rate: 1.2920 - 1.2925 (as of 8:20am PST)
Ranges: | Asia: | 1.2948 | to | 1.2971 |
Europe: | 1.2923 | to | 1.2946 | |
North America: | 1.2905 | to | 1.2935 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2865 | 1.2901 | 1.2980 | 1.3080 |
Key Economic Data Releases:
- NY Empire state mfg. Index -4.21 (exp. 2.50) 0.55 previous
Key Event Calendar:
Date | Canada | U.S.A. |
Aug 16 Aug 17 Aug 18 Aug 19 | Manufacturing sales CPI, retail sales | CPI, industrial productions, housing starts Crude oil inventories, FOMC minutes Philly Red Manufacturing index |
CAD is up 0.3 % from Friday's close and trading at a fresh one month high as we enter Monday's NA session. Oil prices remain dominant in driving the CAD as we note the ongoing disconnect to yield spreads. Oil climbed above $45 a barrel in NY for the first time in three weeks thanks to speculation that crude producers will revive discussions to stabilize the markets. The UK is due to publish inflation data tomorrow which will offer the first hard look as to the impact of the BREXIT vote on price stability and the Bank of England's flexibility to unleash stimulus. The TSX is up 0.29% while the Dow is up 0.46%. EURCAD is up 0.04% trading between 1.4429 and 1.4479. GBPCAD is down 0.51% trading between 1.6607 and 1.6777. JPYCAD is down 0.04% trading between 0.01276 and 0.01282. Gold is up 0.44% trading between $1,335 and $1,343USD/oz., silver is up 0.61% trading between $19.70 and $20.04 USD/oz., while oil is up 1.71% trading between $44.41 and $45.67 USD/barrel.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive
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Disclaimer
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.
