Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 3, 2020


USDCAD spot rate: 1.3575 - 1.3580 (as at 7:57am PST)

Ranges:

Asia:

1.3557

to

1.3575

Europe:

1.3553

To

1.3577

North America:

1.3564

to

1.3582

Technical Support / Resistance:

S2

S1

R1

R2

1.3485

1.3550

1.3620

1.3715

Key Economic Data Releases:

- no key data

Event Calendar:

Date

Canada

U.S.A.

July 6

July 7

July 8

July 9

July 10

BOC business outlook survey

Ivey purchasing managers index

Housing starts

Housing price index

Net employment change, unemployment rate

Markit services / ISM non-manufacturing PMI

EIA crude oil stocks change

Initial jobless claims

Producer price index

Yesterday, USDCAD initially dropped from 1.3610 down to 1.3560 before climbing to 1.3624. The move above 1.36 coincided with the release of the U.S. Covid-19 data – a new daily record which sent the DJIA 400 pts lower to session lows. The move was short-lived with equity markets rebounding to finish the day with gains while USDCAD eased lower to 1.3560 in late trade. With U.S. markets closed for the July 4th Holiday, market action has been subdued thus far. Positive risk sentiment in Asia kept USDCAD anchored near session lows while a deterioration in market sentiment during the London and NA sessions has seen USDCAD move up to session highs. The TSX and the DJIA are down 0.20% and 1% respectively. EURCAD is unchanged near 2 week lows trading between 1.5228 and 1.5269. GBPCAD is unchanged trading between 1.6876 and 1.6935 – near 3 month lows. JPYCAD is unchanged trading between 0.01260 and 0.01263 – near 3 week lows. Gold is unchanged trading between $1,772 - $1,777USD/oz – near an 8 year high. Silver is unchanged holding between $17.94 - $18.06. Oil (WTI crude) is down 0.33% trading between $39.90 - $40.54, holding near 4 month highs.

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