Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 12, 2020

USDCAD spot rate: 1.3587 - 1.3592 (as at 7:45am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. consumer sentiment index: 78.9 exp 75 prev 72.3

Event Calendar:

After falling to fresh 3 month lows near 1.3320 after Wednesday's U.S. Fed interest rate policy announcement, massive risk aversion flows propelled USDCAD up to 1.3650 yesterday. The USD and JPY were broadly bid as the DJIA lost over 1,800 pts / 7% giving up the entirety of this month's gains in a single session. Oil prices also plunged 10% taking WTI crude to a 2 week low. Overnight, equities continued lower initially before broadly recovering. That sent the USD and JPY broadly lower. After hitting a two-week high of 1.3666, USDCAD dropped to 1.3527 during the London session. The pairing bounced to 1.3594 in early North American trade before falling back to 1.3540. North American equity indices are giving up some of the earlier gains and flows are benefitting the USD and JPY once again. USDCAD has since climbed back to 1.3600. The TSX and the DJIA are up 2% and 1.60% respectively – both near 2 week lows. EURCAD has fallen from 6 week highs - down 0.50% trading between 1.5312 and 1.5419. GBPCAD is down 0.70% trading between 1.7043 and 1.7178 – near a 1 month high. JPYCAD is down 0.75% trading between 0.01258 and 0.01281 after hitting two week highs. Gold is up 0.70% trading between $1,722 - $1,743USD/oz – near a 7.5 year high. Silver is up 0.15% holding between $17.39 - $17.75. Oil (WTI crude) is up 0.35% after falling 10% yesterday, trading between $34.72 - $37.18 – near two week lows.