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

USDCAD spot rate: 1.3278 - 1.3283 (as at 8:09am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. durable goods orders: 2.1% (exp 1.1% / prev 1.9%)

- U.S. durable goods orders ex transportation: -0.4% (exp 0.1% / prev 1.0%)

Event Calendar:

On Friday, USDCAD climbed from 1.3290 up to 1.3339 before falling back to 1.3277. A second attempt higher stalled at 1.3328 and the pairing settled near 1.3280 to close the week. Early Asian markets were unsettled by the escalation of the U.S. / China trade war and subsequent market sell-off on Friday. Risk aversion drove the JPY higher and the AUD & NZD lower in early trade (JPY hitting near 3 year highs vs the CAD and USD while the AUD dropped towards a 9 year low) USDCAD gapped higher from Friday's close testing 1.3315/20 before falling back to 1.3290. Flows reversed partway through the session with oil prices climbing nearly 4.5% from the lows while North American equities have gained ground. USDCAD has fallen from 1.3316 to session lows near 1.3270 this morning. Currently, the TSX and the DJIA have both recovered from overnight lows - up 0.41% and 0.66% respectively. EURCAD is down 0.22% trading between 1.4761 and 1.4861 – near 2 year lows. GBPCAD is down 0.20% trading between 1.6229 and 1.6350 – near 1 month highs. JPYCAD is down 0.50% trading between 0.01249 and 0.01274 – near 3 year highs. Gold is up 0.50% - still near 6 year highs trading between $1,525 and $1,555USD/oz while oil (WTI crude) is up 0.65% trading between $52.94 and $55.19.