Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 24, 2019

USDCAD spot rate: 1.3125 - 1.3130 (as at 7:54am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. markit manufacturing: 50.0 (exp 51.0 / prev 50.6)

- U.S. markit services PMI: 52.2 (exp 51.7 / prev 51.5)

Event Calendar:

The USD/CAD pair traded with a mild positive bias for the fourth consecutive session on Wednesday and is currently placed at session tops, just below mid-1.3100s. After the previous session's late pullback from near one-month tops, the pair managed to regain some positive traction on Wednesday, albeit a combination of diverging forces failed to provide any meaningful impetus. The US Dollar stood tall near five-week tops and remained well supported by the fact that investors continued scaling back expectations of a 50 bps rate cut by the Fed at its upcoming monetary policy meeting on July 30-31. Currently, the TSX is down 0.19% and the DJIA is down 0.28%. EURCAD is down 0.16% trading between 1.4616 and 1.4654. GBPCAD is up 0.35% trading between 1.6319 and 1.6442. JPYCAD is up 0.09% trading between 0.01213 and 0.01216. Gold is up 0.46% trading between $1,416 and $1,429USD/oz, silver is up 1.25% trading between $16.35 and $16.64USD/oz, while oil (WTI crude) is up 1.40% trading between $56.87 and $57.61.