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)

Ranges:

Asia:

1.3119

to

1.3138

Europe:

1.3097

to

1.3126

North America:

1.3099

to

1.3111

Technical Support / Resistance:

S2

S1

R1

R2

1.3040

1.3091

1.3144

1.3200

Key Economic Data Releases:

- Canadian Federal election

Event Calendar:

Date

Canada

U.S.A.

Oct 22

Oct 23

Oct 24

Oct 25

Retail sales, BOC business outlook survey

Wholesale sales

Existing home sales

Housing price index

Durable goods orders, new home sales

Consumer sentiment index

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

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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.