Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 26, 2020


USDCAD spot rate: 1.3707 - 1.3712 (as at 8:17am PST)

Ranges:

Asia:

1.3628

to

1.3652

Europe:

1.3637

To

1.3663

North America:

1.3650

to

1.3715

Technical Support / Resistance:

S2

S1

R1

R2

1.3610

1.3670

1.3750

1.3800

Key Economic Data Releases:

- U.S. personal income: -4.2% exp -6% prev 10.8% spending: 8.2% exp 9% prev -12.6%

- U.S. consumer sentiment index: 78.1 exp 79 prev 78.9

Event Calendar:

Date

Canada

U.S.A.

June 29

June 30

July 1

July 2

July 3

GDP

Canada Day

Int'l merchandise trade, Markit manufacturing PMI

Pending home sales

Fed Powell speech, Treas. Sec. Mnuchn speech

ADP employment, Markit / ISM mfg. PMI, EIA crude oil stocks change, FOMC minutes

Non-farm payrolls, unemployment rate, trade balance, jobless claims

Yesterday, USDCAD initially climbed from 1.3620 up to 1.3666 before falling back to 1.3609. The move lower quickly reversed with climb to 1.3670 – near 1 month highs before a late rally in equity markets sent USDCAD down to 1.3630. Overnight, equities and commodities were under pressure with flows benefitting the USD and JPY. The U.S. is reporting its highest daily average of Covid-19 cases and reports suggest that some states will be closing bars and restaurants. USDCAD has broken thorough the 1.3666 – 1.3686 resistance zone in place since June 1 which saw the USDCAD rate plunge from 1.3800 down to 1.3560. The high so far this morning has been 1.3715 with pull-back limited to 1.3693 thus far. The TSX and the DJIA are down 1.5% and 2% respectively near 2 week lows. EURCAD has climbed towards 2 month highs – up 0.45% trading between 1.5293 and 1.5369. GBPCAD is down 0.20% trading between 1.6888 and 1.6957 – near 3 month lows. JPYCAD is up 0.50% trading between 0.01271 and 0.01279 – near 1 month highs. Gold is down 0.40% trading between $1,747 - $1,767USD/oz – near an 8 year high. Silver is down 0.80% holding between $17.49 - $17.91. Oil (WTI crude) is down 2.7% trading between $37.85 - $39.39, after having hit 4 month highs @ $41.57 on Tuesday.

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