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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 29,2020


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

Ranges:

Asia:

1.3647

to

1.3687

Europe:

1.3650

To

1.3694

North America:

1.3678

to

1.3704

Technical Support / Resistance:

S2

S1

R1

R2

1.3580

1.3623

1.3711

1.3750

Key Economic Data Releases:

- U.S. pending home sales: 44.3% (exp 19.7% / prev -21.8%)

Event Calendar:

Date

Canada

U.S.A.

June 30

July 1

July 2

July 3

GDP

Canada Day

Int'l merchandise trade, Markit manufacturing PMI

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

The USD/CAD pair refreshed daily tops during the early North American session, with bulls now eyeing a sustained move beyond the 1.3700 round-figure mark. The pair managed to reverse an early dip to the 1.3650-45 region and has now moved back into the positive territory. After spending a major part of Monday's trading session in the red, the US dollar staged a goodish intraday bounce and was seen as one of the key factors behind the USD/CAD pair's uptick of around 50 pips. Investors remain concerned a surge in the number of coronavirus cases could trigger renewed lockdown measures. This, in turn, dampened prospects for a sharp V-shaped global economic recovery and continued weighing on investors' sentiment. The prevalent cautious mood extended some support to the greenback's relative safe-haven status. The USD got an additional boost following the release of stronger-than-expected Pending Home Sales data, which surpassed even the most optimistic estimates and recorded a strong growth of 44.3% MoM in May. However, a positive turnaround in oil prices underpinned the commodity-linked currency – the loonie – and capped the upside for the USD/CAD pair. The TSX is up 1.34% and the DJIA is up 0.08%. EURCAD is up 0.23% trading between 1.5334 and 1.5426. GBPCAD is down 0.47% trading between 1.6791 and 1.6914. JPYCAD is down 0.39% trading between 0.01267 and 0.01277. Gold is up 0.17% trading between $1,765 - $1,775USD/oz. Silver is up 0.64% trading between $17.68 - $17.95. Oil (WTI crude) is up 1.10% trading between $37.53 - $39.18.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group

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