Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 26, 2019


USDCAD spot rate: 1.3182 - 1.3187 (as at 7:57am PST)

Ranges:

Asia:

1.3155

to

1.3164

Europe:

1.3160

to

1.3188

North America:

1.3173

to

1.3199

Technical Support / Resistance:

S2

S1

R1

R2

1.3016

1.3115

1.3200

1.3250

Key Economic Data Releases:

- U.S. GDP Q2: 2.1% (exp 1.8% / prev 3.1%)

- U.S. GDP price index: 2.5% (exp 1.9% / prev 0.8%)

- U.S. core personal consumption expenditure Q2: 1.8% (exp 2.0% / prev 1.1%)

Event Calendar:

Date

Canada

U.S.A.

July 29

July 30

July 31

Aug 1

Aug 2

GDP (May)

Markit manufacturing PMI

Int'l merchandise trade

Personal income/spending, consumer confidence, Core PCE price index

ADP employment change, Fed interest rate

ISM / Markit manufacturing PMI

Non-farm payrolls, unemployment rate, Avg. hourly earnings, trade balance

Yesterday, USDCAD initially declined from 1.3145 down to 1.3115 before climbing to hold a 1.3152 – 1.3167 range for the balance of the day. Overnight, USDCAD climbed to 1.3188 before extending to 1.3195 after U.S. 2nd quarter GDP data came in better than expected. The pairing dropped to 1.3175 before a 2nd wave of buying tested the 1.3199 level (a new 1 month high). That was short-lived as USDCAD has since pulled-back towards 1.3175 again. The probability of a 50 basis point interest rate cut at next weeks Fed meeting has declined from 60% down to 21% since last Thursday. Currently, the TSX and the DJIA are up about 0.20% trading near historical highs. EURCAD is unchanged trading between 1.4665 and 1.4694 – trading near 2 year lows. GBPCAD is down 0.25% trading between 1.6357 and 1.6422 – near 2 year lows. JPYCAD is unchanged trading between 0.01210 and 0.01214 – near 3 month lows. Gold is up 0.50% near 6 year highs trading between $1,414 and $1,425USD/oz while oil (WTI crude) is unchanged trading between $55.77 and $56.61 – near 1 month lows.

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