Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 28, 2019


USDCAD spot rate: 1.3060 - 1.3065 (as at 8:18am PST)

Ranges:

Asia:

1.3069

to

1.3079

Europe:

1.3049

to

1.3076

North America:

1.3050

to

1.3065

Technical Support / Resistance:

S2

S1

R1

R2

1.3000

1.3041

1.3090

1.3140

Key Economic Data Releases:

- No major data releases

Event Calendar:

Date

Canada

U.S.A.

Oct 29

Oct 30

Oct 31

Nov. 1

Bank of Canada interest rate

GDP

Markit manufacturing index

Consumer confidence, pending home sales

GDP Q3, ADP employment change, Fed interest rate decision

Core personal consumption expenditure price index

Non-farm payrolls, unemployment rate, Avg hourly earnings, ISM manufacturing index

After closing the third straight week in the negative territory last Friday, the USD/CAD pair gained traction and rose close to 1.3080 during the European trading hours on Monday but struggled to push higher as this move is seen as a technical correction of last week's drop rather than a fundamentally-drive advance. Last week, hopes of the OPEC opting out for deeper production cuts amid dismal global energy demand outlook and a sharp drop in crude oil stocks in the U.S. provided a boost to crude oil prices and helped the commodity-related CAD outperform its rivals. The barrel of West Texas Intermediate (WTI) added 5.5% last week and is now staying in a consolidation phase above the $56 handle. Meanwhile, ahead of this week's critical FOMC meeting, the US Dollar Index is staying in a tight range. The Greenback came under some renewed selling pressure at the beginning of the week in response to a pick up in the sentiment surrounding the riskier assets on auspicious Brexit headlines, lifting GBP, EUR and US yields. Currently, the TSX is up 0.24% and the DJIA is up 0.54%. EURCAD is up 0.19% trading between 1.4461 and 1.4505. GBPCAD is up 0.27% trading between 1.6725 and 1.6812. JPYCAD is down 0.13% trading between 0.01197 and 0.01202. Gold is down 0.75% trading between $1,490 and $1,508USD/oz while silver is down 0.75% trading between $17.78 and $18.13. Oil (WTI crude) is down 0.89% trading between $56.10 and $56.91.

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