Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 18, 2019


VBCE Daily Foreign Exchange Update for Wednesday, Sept 18, 2019

USDCAD spot rate: 1.3269 - 1.3274 (as at 8:15am PST)

Ranges:

Asia:

1.3240

to

1.3268

Europe:

1.3238

to

1.3272

North America:

1.3255

to

1.3274

Technical Support / Resistance:

S2

S1

R1

R2

1.3160

1.3233

1.3298

1.3350

Key Economic Data Releases:

- Canadian CPI: -0.1% (exp -0.1% / prev 0.5%)

- U.S. economic projections: 11am

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

Event Calendar:

Date

Canada

U.S.A.

Sept 19

Sept 20

Retail sales

Philly Fed mfg. survey, jobless claims

Bonds rallied globally while stocks struggled for traction before the Federal Reserve concludes its policy meeting Wednesday, with officials expected to cut interest rates again and possibly move further to calm money-markets rates. The S&P 500 Index edged lower, with FedEx Corp. tumbling after the company slashed its profit outlook, blaming a global economy weakened by trade tensions. Europe's equity benchmark eked out an advance. Government bonds climbed from the U.S. to Japan, with the 10-year Treasury yield dipping below 1.8%. The surge came after the Fed had to inject cash Tuesday to soothe money markets -- an intervention it repeated Wednesday. While Fed officials are widely expected to cut their benchmark rate by a quarter-point, some investors are saying the central bank may also boost its balance sheet to stabilize the volatile repo market. Traders also are keeping an eye on whether a potential oil shortage weighs on the global economy, and on preparations by the U.S. and China for top officials to meet on trade in October. Currently, the TSX is up 0.06% and the DJIA is down 0.21%. EURCAD is up 0.03% trading between 1.4629 and 1.4676. GBPCAD is up 0.01% trading between 1.6490 and 1.6567. JPYCAD is up 0.73% trading between 0.01223 and 0.01225. Gold is up 0.47% trading between $1,499 and $1,508USD/oz while silver is down 0.33% trading between $17.80 and $18.04. Oil (WTI crude) is down 1.19% trading between $58.09 and $59.41.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group

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