01 Jan Buy USD, or Sell US Dollar? Key indicators this week for USD

First day of the week and another multi-year low in oil prices and Canadian dollar exchange rates. This new low for oil isn’t due to supply and demand, rather it is because of downgrades from major international banks.

The drop in oil prices has a clear effect on the Canadian dollar which is now at a new 5.5 year low against the US Dollar.

As per the USD/CAD foreign exchange rates there is a key psychological resistance at the 1.20 mark next.

Foreign Currency Exchange Places, and Foreign Exchange Traders should look at these key economic data and news coming out this week which will have an effect on the US Dollar exchange rate:

• Monday January 12, 2015: BOC Business Outlook Survey  and Speech by FOMC Member Lockhart.
• Tuesday January 13, 2015: US 10-Year Bond Auction and JOLTS report
• Wednesday January 14, 2015: Release of US Crude Oil Inventories, US Retail Sales and US Business Inventories
• Thursday January 15, 2015: Philly FED Manufacturing Index, US PPI, and Initial Unemployment Claims
• Friday January 16, 2015: US Industrial Production, US CPI, and UofM Consumer Sentiment

As of this morning Cash Now Malton rates for major foreign currency are:

Buy USD:  $1.181
Sell USD:  $1.205

Buy EURO:  $1.393
Sell EURO:  $1.428

Buy GBP:  $1.784
Sell GBP:  $1.829

For live foreign exchange rates visit www.cashnowexchange.ca/currency-exchange