Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 20, 2019

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USDCAD spot rate: 1.3265 - 1.3270 (as at 7:58am PST)

Ranges:

Asia:

1.3255

to

1.3273

Europe:

1.3258

to

1.3278

North America:

1.3261

to

1.3300

Technical Support / Resistance:

S2

S1

R1

R2

1.3130

1.3240

1.3300

1.3340

Key Economic Data Releases:

- Canadian retail sales: 0.4% (exp 0.6% / prev -0.1%) ex autos: -0.1% (exp 0.3% / prev 0.9%)

Event Calendar:

Date

Canada

U.S.A.

Sept 23

Sept 24

Sept 25

Sept 26

Sept 27

Wholesale sales

Markit manufacturing PMI

House price index, consumer confidence

New home sales, EIA crude oil stocks

GDP Q2, jobless claims

Durable goods orders, consumer sentiment


Yesterday, USDCAD initially climbed from 1.3280 up to 1.3307 before falling to 1.3242. The pairing then eased back to hold a 1.3255/70 range for the balance of the session. The move lower effectively erased the gains seen Thursday after the U.S. Fed interest rate decision which resulted in a brief move from 1.3275 up to 1.3305 – a 2 week high. Canadian retail sales data for July out this morning missed market estimates sending USDCAD from 1.3270 up to 1.3294. After pulling back to 1.3278, a 2nd attempt higher stalled at 1.3295/1.3300. The pairing has since fallen to 1.3265. Both the EUR and GBP are trending lower today as the chance of a "No-deal Brexit" increases on reports that the UK and EU are "as far from agreement to replace (Irish) backstop as ever." The GBP and the EUR have been the best performing currencies in recent weeks trading near 3 month and 3 week highs respectively. Currently, the TSX and the DJIA are up 0.43% and 0.21% respectively – both near historical highs. EURCAD is down 0.25% trading between 1.4621 and 1.4684 – down from 3 week highs after having fallen to 2 year lows last Thursday. GBPCAD is down 0.25% trading between 1.6549 and 1.6691 – down from 3 month highs. JPYCAD is up 0.20% trading between 0.01226 and 0.01230 – near 2 week highs. Gold is up 0.34% trading between $1,498 and $1,507USD/oz – recovering from a 6 week low while silver is up 0.25% trading between $17.74 and $17.98. Oil (WTI crude) is unchanged on the day trading between $58.30 and $59.20 – now up just 7% on the week after having surged 15% to 4 month highs on Monday. Reports out of Saudi Arabia suggest oil production is set to resume back to normal levels by the end of this month.

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