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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