Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 22, 2020


USDCAD spot rate: 1.3541 - 1.3546 (as at 8:40am PST)

Ranges:

Asia:

1.3562

to

1.3626

Europe:

1.3541

To

1.3590

North America:

1.3531

to

1.3560

Technical Support / Resistance:

S2

S1

R1

R2

1.3460

1.3525

1.3650

1.3695

Key Economic Data Releases:

- Canada BOC Macklem speech

- U.S. existing home sales: 3.91M (exp 4.12M / prev 4.33M)

Event Calendar:

Date

Canada

U.S.A.

June 23

June 24

June 25

June 26

Markit mfg index, new home sales

Crude oil stocks change, housing price index

GDP Q1, durable goods orders, jobless claims

Personal income/spending, consumer sentiment


The USD/CAD pair started the new week in a calm manner near 1.3600 but lost its traction during the European trading hours reaching a low of 1.3541 and it continued to drop to 1.3531 into the North American session. The USD is currently down 0.33% on the day. The lack of significant macroeconomic data releases on Monday seems to be forcing the US Dollar Index (DXY) to make a technical correction. The DXY rose for the second straight time last week and gained 0.59%. On Monday, the index is down 0.3% at 97.37, allowing the bearish momentum to remain intact. On the other hand, boosted by OPEC's pledge to improve compliance with output cuts, crude oil prices pushed higher with the barrel of WTI posting its highest weekly close in more than three months. At the moment, the WTI is trading just above $40, up around 1% on the day. Currently the TSX is down 0.17% and the DJIA is down 0.01%.. EURCAD is up 0.26% trading between 1.5192 and 1.5255. GBPCAD is up 0.32% trading between 1.6789 and 1.6881. JPYCAD is down 0.47% trading between 0.01266 and 0.01275. Gold is up 0.85% trading between $1,741 - $1,763USD/oz. Silver is up 1.48% holding between $17.59 - $18.03. Oil (WTI crude) is up 0.99% trading between $39.40 - $40.24.

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