Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 31, 2019


USDCAD spot rate: 1.3140 - 1.3142 (as at 8:16am PST)

Ranges:

Asia:

1.3134

to

1.3150

Europe:

1.3118

to

1.3158

North America:

1.3105

to

1.3145

Technical Support / Resistance:

S2

S1

R1

R2

1.3020

1.3070

1.3194

1.3250

Key Economic Data Releases:

- Canada GDP: 0.2% (exp 0.1% / prev 0.3%)

- U.S. ADP employment change: 156K (exp 150K / prev 112K)

- U.S. Fed interest rate decision: 11am

Event Calendar:

Date

Canada

U.S.A.

Aug 1

Aug 2

Markit manufacturing PMI

Int'l merchandise trade

ISM / Markit manufacturing PMI

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


U.S. stocks fluctuated as investors digested earnings and the end of the most recent trade talks with China. The negotiations between Chinese and American officials ended without much of a sign of headway also weighed on sentiment, but the 2 sides did agree to continue discussions. The U.S. Fed will announce its interest rate decision today at 11am, where they are widely expected to cut rates by 25bpt. Current markets have already priced in this anticipate cut. Chairman Jerome Powell's post-meeting press conference at 11:30am will be key, as markets participants assess the outlook for growth and the prospect of additional cuts this fall. Markets are currently pricing about a 90bpts in Fed cuts over the next 12 months. Currently, the TSX is down 0.30% and the DJIA is down 0.03%. EURCAD is down 0.43% trading between 1.4590 and 1.4670. GBPCAD is up 0.38% trading between 1.5956 and 1.6055. JPYCAD is down 0.21% trading between 0.01207 and 0.01211. Gold is down 0.20% trading between $1,426 and $1,434USD/oz, silver is down 0.76% trading between $16.36 and $16.57USD/oz, while oil (WTI crude) is up 0.90% trading between $58.22 and $58.80.

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