Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 13, 2019


USDCAD spot rate: 1.3240 - 1.3245 (as at 8:11am PST)

Ranges:

Asia:

1.3230

to

1.3251

Europe:

1.3242

to

1.3268

North America:

1.3235

to

1.3268

Technical Support / Resistance:

S2

S1

R1

R2

1.3160

1.3210

1.3268

1.3300

Key Economic Data Releases:

- U.S. CPI m/m: 0.4% (exp 0.3% / prev 0%) y/y: 1.8% (exp 1.7% / prev 1.7%)

- U.S. CPI ex food & energy m/m: 0.2% (exp 0.2% / prev 0.1%) y/y: 2.3% (exp 2.4% / prev 2.4%)

Event Calendar:

Date

Canada

U.S.A.

Nov. 14

Nov. 15

New housing price index

BOC Poloz speech

PPI, jobless claims, Fed Powell speech

Retail sales, industrial production


Yesterday, USDCAD climbed to 1.3258 – a 4 week high before falling back to 1.3216. The pairing then moved back to hold near 1.3230/40 for the balance of the day. Overnight, risk aversion was elevated benefitting the USD and JPY and taking USDCAD up to 1.3268. The NZD is the best performing currency on the day after the New Zealand central bank surprisingly held its key interest rate at 1%. Risk flows have reversed course this morning while U.S. Fed Chairman Powell confirmed a likely pause in interest rate cuts as long as the economy remains on track. The OPEC Secretary offered up bullish commentary on oil suggesting a steep supply in U.S. shale output along with an upside swing in oil demand for 2020. Oil prices are back up near 6 week highs after the comments while USDCAD has fallen back towards session lows. Currently, the TSX is up 0.28% while the DJIA has recouped earlier losses – both holding near historical highs. EURCAD is unchanged trading between 1.4559 and 1.4619 – near 3 week lows. GBPCAD is unchanged trading between 1.6981 and 1.7059 – near 6 month highs. JPYCAD is up 0.30% trading between 0.01213 and 0.01219 – near 1 month highs. Gold is up 0.50% trading between $1,456 and $1,466USD/oz while silver is up 0.62% trading between $16.61 and $17.02 – both near 3.5 month lows. Oil (WTI crude) is up 0.80% trading between $56.29 and $57.46 – near 6 week highs.

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