:: US Dollar vs Canadian Dollar: The USD continues to edge lower against the majors as global equity markets and commodities rallied. Crude prices traded above $82/bbl, gaining for the ninth straight session. USD/CAD broke below 1.0350, trading at an 11 week low. The C$ gained 0.7% against the USD.
- We expect a range today in USD/CAD rate of 1.0315 - 1.0425
:: Canadian Dollar vs Euro and Japanese Yen: German employment increased for 6th straight month. December Euro Zone CPI is expected to come in at 0.9%. Support for the pair comes in at the 1.4800 level with resistance coming in at the 1.5040 level. The Yen is getting some support after the Nikkei closed at a 15 month high. The Sumitomo bank also announced plans to raise ¥ 800 billon in new shares to meet stricter global capital requirement and for potential acquisitions in Asia. Support comes in at 88.10 with resistance coming in at 89.20.
- We expect a range today in the EUR/CAD rate of 1.4895 - 1.5040 and in the CAD/JPY rate of 87.68 - 89.10
:: Canadian Dollar vs British Pound, Australian Dollar and New Zealand Dollar: The Pound is lower across the board as expectations that the asset purchase program is close to an end. Also adding to the pressure is the announcement that Pimco will start to sell off its holding of UK Gilts. The Pound lost the most against the C$, losing 1.06%. Australian New Home Sales for November rose 0.3%. The Aussie is 0.37% lower against the C$. There is no new data is coming out of New Zealand.
:: Data Releases:
CAD: RMPI m/m, IPPI m/m
USD: Pending Home Sales m/m, Factory Orders m/m, Total Vehicle Sales
AUD: AIG Services Index
EUR: German Unemployment Change, CPI Flash Estimate y/y
GBP: Construction PMI, Nationwide Consumer Confidence, BRC Shop Price Index y/y
JPY: No Data
NZD: No Data
:: Note: The above exchange rates are based on "interbank" rates. If you are considering a transfer then please login, register or call us for a live dealing rate.
Regards,
CanadianForex Dealers
CanadianForex | Foreign Exchange Services
