Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 29, 2019

USDCAD spot rate: 1.3295 - 1.3300 (as at 9:05am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada current account Q2: -$6.38 billion (exp -$9.80 billion / prev -$16.63 billion)

- U.S. GDP Q2 annualized: 2.0% (exp 2.0% / prev 2.1%)

- U.S. GDP Q2 price index: 2.5% (exp 2.4% / prev 2.5%)

- U.S. pending home sales: -2.5% (exp 0% / prev 2.8%)

- U.S. initial jobless claims: 215,000 (exp 215,000 / prev 211,000)

Event Calendar:

Yesterday, USDCAD climbed from 1.3278 up to 1.3318 before falling back to 1.3287. The pairing then eased higher to hold near 1.3305/10 for the balance of the session. Overnight, the pairing tested weekly highs near 1.3319 before falling to 1.3273 ahead of the 2^nd quarter U.S. GDP data. The commodity bloc received a boost and out-performed during the European session as global equity markets and commodities moved higher on the back of positive U.S. / China trade comments. USDCAD has since reversed back up to 1.3317 and subsequently fallen back to 1.3290 as North American equity markets trade near 2 week highs. Oil prices are up near 1 week highs as well. Tomorrow, Canada will release Q2 GDP expected in at 3.0% - up from 0.4% on a quarterly basis. Currently, the TSX and the DJIA are up 0.80% and 1.40% respectively. EURCAD is down 0.22% trading between 1.4695 and 1.4762 – near 2 year lows. GBPCAD is down 0.16% trading between 1.6178 and 1.6266 – down from 1 month highs. JPYCAD is down 0.40% trading between 0.01247 and 0.01257 – still holding near 3 year highs. Gold is unchanged - still near 6 year highs trading between $1,534 and $1,550USD/oz while oil (WTI crude) is up 1.10% trading between $55.33 and $56.54.