VBCE Daily Foreign Exchange Update for Monday, Oct. 21, 2019

VBCE Daily Foreign Exchange Update for Monday, Oct. 21, 2019

USDCAD spot rate: 1.3100 - 1.3105 (as at 8:01am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canadian Federal election

Event Calendar:

U.S. stocks rose amid positive signs on U.S.-China trade talks and as investors awaited earnings from some of the world's biggest companies. Treasuries fell. The S&P 500 Index climbed toward a one-month high, trading near the 3,000 level, led by financial and energy shares. The pound fluctuated on news that the U.K. Parliament won't vote on Prime Minister Boris Johnson's Brexit deal Monday. Investors continue to monitor fresh developments on trade negotiations between the world's 2 largest economies. Larry Kudlow, President Trump's economic advisor, told Fox Business that he sees the possibility of taking off the December tariff increases if talks go well. China's Vice Premier Liu He said Saturday that there had been substantial progress with the U.S. to lay the foundation for an initial accord on trade. Currently, the TSX is up 0.32% and the DJIA is up 0.01%. EURCAD is down 0.44% trading between 1.4607 and 1.4665. GBPCAD is down 0.05% trading between 1.6907 and 1.7064. JPYCAD is down 0.31% trading between 0.01206 and 0.01211. Gold is up 0.13% trading between $1,487 and $1,495USD/oz while silver is up 1.28% trading between $17.50 and $17.87. Oil (WTI crude) is down 1.33% trading between $52.80 and $54.00.

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