Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 27, 2019


USDCAD spot rate: 1.3275 - 1.3280 (as at 8:32am PST)

Ranges:

Asia:

1.3235

to

1.3260

Europe:

1.3228

to

1.3248

North America:

1.3224

to

1.3283

Technical Support / Resistance:

S2

S1

R1

R2

1.3180

1.3225

1.3316

1.3340

Key Economic Data Releases:

- U.S. housing price index m/m: 0.2% (exp 0.3% / prev 0.2%)

- U.S. S&P/Case Shiller home price indices y/y: 2.1% (exp 2.4% / prev 2.4%)

- U.S. Richmond Fed manufacturing index: 1 (exp -4 / prev -12)

- U.S. consumer confidence: 135.1 (exp 129.0 / prev 135.8)

Event Calendar:

Date

Canada

U.S.A.

Aug 28

Aug 29

Aug 30

GDP

EIA crude oil stocks change

GDP, jobless claims

Personal income/spending, consumer sentiment

Yesterday, USDCAD climbed from 1.3290 up to 1.3320 before falling back towards 2 week lows @ 1.3245 amidst a rebound in positive market sentiment after last Friday's tumultuous day. The 1.3316 level was tested in all three sessions yesterday with the failure to break above leading to the move just below last week's low of 1.3251. USDCAD has run into strong resistance in the 1.3330-45 range this month – an area that has been tested about a dozen times. Positive market sentiment and stability continued in the overnight session taking USDCAD down to 1.3228. After touching 1.3224 in early North American trade, the trend abruptly changed sending USDCAD back up to session highs at 1.3283. Oil prices have given up earlier gains (~2%) as have most U.S. stock indices. Currently, the TSX is up 0.30% while the DJIA is now unchanged. EURCAD is up 0.15% trading between 1.4684 and 1.4733 – near 2 year lows. GBPCAD is up 0.75% trading between 1.6159 and 1.6323 – near 1 month highs. JPYCAD is up 0.50% trading between 0.01249 and 0.01254 – near 3 year highs. Gold is up 1% - still near 6 year highs trading between $1,522 and $1,542USD/oz while oil (WTI crude) is up 0.20% trading between $53.65 and $54.52.

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