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


USDCAD spot rate: 1.3131 - 1.3136 (as at 8:35am PST)

Ranges:

Asia:

1.3131

to

1.3145

Europe:

1.3132

to

1.3145

North America:

1.3131

to

1.3145

Technical Support / Resistance:

S2

S1

R1

R2

1.3016

1.3130

1.3230

1.3300

Key Economic Data Releases:

- no key data

Event Calendar:

Date

Canada

U.S.A.

Oct 21

Oct 22

Oct 23

Oct 24

Oct 25

Federal election

Retail sales, BOC business outlook survey

Wholesale sales

Existing home sales

Housing price index

Durable goods orders, new home sales

Consumer sentiment index


Yesterday, USDCAD dropped from 1.3212 down to 1.3130 (the lowest since late July) with bounces limited to 1.3148. The USD was broadly lower with the USD index falling towards a 2 month low. Canada's manufacturing data was stronger than expected while the ADP employment report included a large revision for August - from 49,000 up to 109,000 jobs. U.S. industrial production declined more than expected. Market expectations for a U.S. Fed rate cut on Oct. 30th have surged from 67% up to 87% over the past week. Currencies have held fairly narrow ranges today with USDCAD confined to a 1.3131 – 1.3145 range. The major event is tomorrow's UK Parliament Brexit vote. The GBP has been soaring this week as PM Johnson has negotiated a deal with the EU. To pass, 320 votes are needed and reports indicate that without support from the DUP, it is expected to be a very close call. Former PM May's deal was rejected back in March with a vote of 286 for and 344 against. Another key event is the upcoming Federal Election on Monday – although the CAD has been unusually stable today. Currently, the TSX and the DJIA are down 0.15% and 0.35% respectively, still near historical highs. EURCAD is unchanged trading between 1.4604 and 1.4654 – near a 1 week high and within two cents of the 3 year low from Oct. 1st. GBPCAD is unchanged trading between 1.6869 and 1.6970 – up 8 cents this week near 4 month highs. JPYCAD is unchanged trading between 0.01207 and 0.01211 – near 3 month lows. Gold is unchanged trading between $1,485 and $1,494USD/oz while silver is unchanged trading between $17.41 and $17.60 – both near 1 week highs. Oil (WTI crude) is unchanged trading between $53.85 and $54.73 – near 2 week highs.

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