Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 29, 2019


USDCAD spot rate: 1.3170 - 1.3175 (as at 7:59am PST)

Ranges:

Asia:

1.3157

to

1.3184

Europe:

1.3148

to

1.3183

North America:

1.3157

to

1.3170

Technical Support / Resistance:

S2

S1

R1

R2

1.3016

1.3115

1.3200

1.3250

Key Economic Data Releases:

- No major data releases

Event Calendar:

Date

Canada

U.S.A.

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

The USD/CAD pair traded with a mild positive bias on the first day of a new week and remained well within the striking distance of one-month tops set on Friday. The pair built on its recent recovery from yearly lows and got an additional boost on Friday following the release of stronger-than-expected US GDP report, showing that the economic growth stood at 2.1% annualized pace during the second quarter of 2019. The positive momentum, however, faltered near the 1.3200 handle, though the pullback turned out to be short-lived, rather was quickly bought into at the start of a new trading week amid the prevalent bullish sentiment surrounding the US Dollar. This coupled with a modest pullback in crude oil prices further undermined demand for the commodity-linked currency-Loonie and remained supportive, with bulls now eyeing a sustained move beyond the 1.3200 round figure mark. Given that the Fed is likely to refrain from announcing any aggressive monetary policy easing at its upcoming meeting on July 30-31, a convincing breakthrough the mentioned handle will set the stage for an extension of the recent appreciating move. Currently, the TSX is down 0.24% and the DJIA is up 0.09%. EURCAD is up 0.04% trading between 1.4621 and 1.4652. GBPCAD is down 1.11% trading between 1.6107 and 1.6306. JPYCAD is down 0.16% trading between 0.01209 and 0.01213. Gold is up 0.17% trading between $1,415 and $1,424USD/oz, silver is up 0.25% trading between $16.33 and $16.46USD/oz, while oil (WTI crude) is down 0.30% trading between $55.83 and $56.85.

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