Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 17, 2020


USDCAD spot rate: 1.3055 - 1.3060 (as at 7:56am PST)

Ranges:

Asia:

1.3039

to

1.3054

Europe:

1.3033

To

1.3056

North America:

1.3040

to

1.3068

Technical Support / Resistance:

S2

S1

R1

R2

1.2950

1.3030

1.3070

1.3100

Key Economic Data Releases:

- Foreign portfolio investment in Canadian securities: -$1.75 billion (prev $11.31 billion)

- Canadian portfolio investment in foreign securities: $5.55 billion (prev $2.03 billion)

- U.S. industrial production: -0.3% (exp -0.2% / prev 0.8%)

- U.S. housing starts: 1.608m (exp 1.375m / prev 1.375m)

- U.S. building permits: 1.416m (exp 1.468m / prev 1.474m)

- U.S. consumer sentiment index: 99.1 (exp 99.3 / prev 99.3)

Event Calendar:

Date

Canada

U.S.A.

Jan. 20

Jan. 21

Jan. 22

Jan. 23

Jan. 24

Manufacturing sales

CPI, Bank of Canada interest rate

Retail sales

Martin Luther King Day

Housing price index, existing home sales

Jobless claims, crude oil stocks change

Markit manufacturing / services PMI

Yesterday, USDCAD held an uneventful 1.3030 – 1.3055 range. The pairing has been non-trending this week within a very narrow 1.3030 – 1.3080 range after having traded between 1.2958 (near 15 month lows) and 1.3105 last week. The EUR, GBP, and AUD are marginally lower today while the USD and JPY are marginally higher. U.S. second tier economic data was generally weaker than expected although there was very little reaction in the markets. USDCAD tested weekly support overnight before climbing to 1.3060 this morning. After the data releases the rate dropped to 1.3040 before climbing to 1.3068. The pairing has since moved lower to 1.3055. Currently, the TSX and the DJIA are up 0.40% and 0.20% respectively - reaching new historical highs today. EURCAD is down 0.25% trading between 1.4478 and 1.4538 – very close to a 3 year low. GBPCAD is down 0.25% trading between 1.7000 and 1.7109 – near a 2 month low. JPYCAD is up 0.15% trading between 0.01182 and 0.01186 – near 13 month lows. Gold is unchanged trading between $1,550 and $1,561USD/oz – just under 7 year highs. Silver is unchanged trading between $17.90 and $18.17 – just under 3 year highs. Oil (WTI crude) is down 0.22% trading between $58.42 and $58.97 – near 6 week lows.

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