The Canadian dollar is on the rebound this morning with mid-market rates pushing below 1.02 for the first time in six weeks. Canadian Wholesale Sales numbers came out more positive than expected posting a gain of +1.5% over last month’s +0.3%.
US Building Permit numbers were as expected at 0.78M new annual permits up from last month’s 0.72M. The release did not have a major significance on the USD/CAD but is often viewed as an indicator for future growth prospects.
Equity markets are up this morning after yesterday’s sell-off. The outlook for Greece is more stable now with the New Democracy party winning with 29.5% of the votes, promising that they will agree to the Eurozone’s bailout condition. Markets now turns towards Spain whose issues are next up in the Eurozone crisis.
Expected Range: 1.0140 - 1.0290
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Central Bank Rates
As of 6:30 AM MST USD 1.0208 EUR 1.2891 GBP 1.5995 JPY 0.01289 CHF 1.0721 * Rates are indication only; Call for a live quote 1-800-769-2025
Daily Economic Calendar
CAD 6:30am: Wholesale Sales m/m
USD 6:30am: Building Permits 6:30am: Housing Starts