Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 30, 2019


USDCAD spot rate: 1.3175 - 1.3180 (as at 7:19am PST)

Ranges:

Asia:

1.3164

to

1.3180

Europe:

1.3162

to

1.3184

North America:

1.3170

to

1.3192

Technical Support / Resistance:

S2

S1

R1

R2

1.3016

1.3115

1.3200

1.3250

Key Economic Data Releases:

- U.S. consumer confidence 135.7 (125.4 exp.) 124.3 previous revised upward)

Event Calendar:

Date

Canada

U.S.A.

July 31

Aug 1

Aug 2

GDP (May)

Markit manufacturing PMI

Int'l merchandise trade

ADP employment change, Fed interest rate

ISM / Markit manufacturing PMI

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

Whatever shred of optimism markets had about the ongoing trade negotiations were dealt as a severe blow when President Trump flew off the handle again at China for not buying American agricultural products.

Following another month of escalating tensions, agreement on practically anything would have been viewed positively, but I think you can throw that view out the window. As far as reaching any middle ground, something that China has been demanding in these trade negotiations all along, with the US economy doing well and equity markets at record highs the Whitehouse would be less likely to meet China halfway. President Trump has probably resigned himself the fact that China might roll the dice on the US 2020 election hoping for a more trade compromising Democrat to be voted into power. Currently, the TSX is down 0.24% and the DJIA is down 0.19%. EURCAD is up 0.24% trading between 1.4661 and 1.4698. GBPCAD is down 0.11% trading between 1.5960 and 1.6104. JPYCAD is down 0.06% trading between 0.01209 and 0.01214. Gold is up 0.87% trading between $1,422 and $1,430USD/oz, silver is up 0.75% trading between $16.40 and $16.53USD/oz, while oil (WTI crude) is up 0.30% trading between $57.01 and $57.59.

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