Daily Foreign Exchange Update for June 15, 2026

Spot Rates * USDCAD: 1.3985 - 1.3990 (as at 8:50am PST) * Asia: 1.3950 to 1.3981 * Europe: 1.3966 To 1.3984 * North America: 1.3970 to 1.3992

Technical Support / Resistance: * S2 1.3870 * S1 1.3925 * R1 1.4020 * R2 1.4050

Key Economic Data Releases: - U.S. industrial production: 0.1% exp 0.3% prev 0.9%

Important events we're watching this week: * June 16, Canada, Portfolio investment * June 17, Canada, New housing price index * June 17, USA, Retail sales, Fed interest rate / economic projections * June 18, USA, Philadelphia Fed manufacturing survey * June 19, Canada, Retail sales

Market Spotlight

WTI US Oil has fallen sharply on Monday and trades around $80.15 at the time of writing, down 5.75% on the day. The Crude Oil has dropped to its lowest level since March 10 as investors unwind part of the geopolitical risk premium that had been built into prices following recent tensions between Washington and Tehran. The decline comes after several statements suggested that a deal between the U.S. and Iran is close to being finalized. US Vice President JD Vance told CNBC that authorities expect the Strait of Hormuz to remain “open toll-free in the long term,” while noting that several details still need to be resolved ahead of the planned signing later this week.

On the Iranian side, Foreign Ministry spokesperson Esmail Baghaei Hamaneh said that Tehran would take measures to ensure safe passage through the Strait of Hormuz in coordination with Oman and other countries. He also stated that the US would commit to granting Iran access to its frozen funds, while stressing that both sides would be expected to fulfill their obligations under the agreement. The announced framework includes the gradual reopening of the Strait of Hormuz, a strategic waterway through which nearly 20% of global Oil supplies transit. The prospect of restored shipping flows has eased fears of prolonged disruptions to global energy markets, which had provided significant support to crude prices in recent weeks.

However, some analysts believe that a full normalization of Oil markets could take time. According to Reuters, Tamas Varga of PVM Oil Associates said that restoring Oil flows to pre-crisis levels could take several weeks or even months. In addition, damage to energy infrastructure across the Middle East may continue to constrain supply in the near term. Investors are now focused on the next stages of negotiations between the United States and Iran and on the practical implementation of the Strait of Hormuz reopening, which could shape oil market dynamics in the weeks ahead.

• Currently, the TSX is up 0.89% and the DJIA is up 1.27%. * EURCAD is up 0.27% trading between 1.6173 and 1.6243. * GBPCAD is up 0.16% trading between 1.8726 and 1.8796. * JPYCAD is up 0.11% trading between 0.00871 and 0.00874. * Gold is up 3.16% trading between $4,260 - $4,369USD/oz. * Silver is up 4.17% trading between $68.98 - $71.32USD/oz. * Oil (WTI crude) is down 5.75% trading between $79.73 and $81.20.