Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 14, 2019

USDCAD spot rate: 1.3311 - 1.3316 (as at 8:18am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. EIA oil stocks change: 1.580M (exp -2.761M / prev 2.385M)

Event Calendar:

Mounting signs of a global economic slowdown hammered stocks and drove demand for sovereign bonds to such an extent that shorter-term yields rose above long rates in the U.S. for the first time since 2007.The S&P 500 sank 2% as the inverted gap in rates for 2 and 10-year Treasuries flashed a warning that has normally preceded a recession . European shares plunged after Germany's economy contracted in the 2^nd quarter, adding to angst fueled by weak Chinese retail and industrial numbers. The British yield curve also inverted for the first time since the financial crisis and the pound edged higher after inflation unexpectedly rose. Government bonds rallied across Europe. The warning emanating from bond markets spooked investors already seeking shelter from the fraught geopolitical climate and the impact of the global trade war just a day after equities rallied on a tariff reprieve from President Trump. While curve inversions normally precede economic turndowns, they do not necessarily signal imminent doom. Currently, the TSX is down 1.19% and the DJIA is down 1.89%. EURCAD is up 0.42% trading between 1.4758 and 1.4887. GBPCAD is up 0.70% trading between 1.5925 and 1.6075. JPYCAD is up 0.13% trading between 0.01239 and 0.01257. Gold is up 0.97% trading between $1,494 and $1,518USD/oz, silver is up 1.28% trading between $16.87 and $17.27USD/oz, while oil (WTI crude) is up 0.43% trading between $54.80 and $56.80.