Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 20, 2019

USDCAD spot rate: 1.3160 - 1.3165 (as at 8:30am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada retail sales: -1.2% (exp 0.5% / prev 0%) ex autos: -0.5% (exp 0.3% / prev -0.1%)

- U.S. GDP Q3 annualized: 2.1% (exp 2.1% / prev 2.1%)

- U.S. personal income: 0.5% (exp 0.3% / prev 0.1%)

- U.S personal spending: 0.4% (exp 0.4% / prev 0.3%)

- U.S. core personal consumption expenditure price index y/y: 1.6% (exp 1.6% / prev 1.7%)

- U.S. Michigan consumer sentiment index: 99.3 (exp 99.2 / prev 99.2)

Event Calendar:

Yesterday, USDCAD held near 7 week lows within a 1.3110 – 1.3130 range. The pairing moved up to 1.3144 overnight before climbing to 1.3180 this morning after the release of the Canadian October retail sales data. The data missed estimates and was the lowest reading in 11 months. The rally higher stalled just below the weekly high of 1.3186 tested Monday and Tuesday. USDCAD has since fallen back to 1.3153 with subsequent rallies also stalling at 1.3175/80. Currently, the TSX and the DJIA are up 0.56% and 0.34% respectively - reaching new historical highs today. EURCAD is unchanged trading between 1.4568 and 1.4616 – just 1.5 cents off of a 32 month low. GBPCAD is up 0.50% trading between 1.7056 and 1.7228 – near a 5 week low. JPYCAD is unchanged near 8 month lows - trading between 0.01199 and 0.01204. Gold is unchanged trading between $1,476 and $1,481USD/oz while silver is trading between $17.02 and $17.25 – both near 5 week highs. Oil (WTI crude) is down 1.36% trading between $60.10 and $61.27 – near 7 month highs.