Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 8, 2020


USDCAD spot rate: 1.3547 - 1.3552 (as at 8:10am PST)

Ranges:

Asia:

1.3587

to

1.3624

Europe:

1.3542

To

1.3613

North America:

1.3535

to

1.3553

Technical Support / Resistance:

S2

S1

R1

R2

1.3435

1.3485

1.3638

1.3690

Key Economic Data Releases:

- No major data releases

Event Calendar:

Date

Canada

U.S.A.

July 9

July 10

Housing starts

Net employment change, unemployment rate

Initial jobless claims

Producer price index


U.S. equities climbed as the biggest tech companies continued to rack up gains, overshadowing new tensions between Washington and Beijing and the uncertain outlook for economic recovery. HSBC Holdings Plc slumped after a report that some of U.S. President Donald Trump's advisers proposed a move to destabilize Hong Kong's currency peg as a way of punishing China. Gold topped $1,800 an ounce, while Treasury yields climbed and the dollar slumped. Banks led European stocks lower. With much of the world stuck at home, investors have been bidding up tech shares largely insulated from the coronavirus lockdowns. Analysts are debating what comes next for the U.S. economy as states allow businesses to re-open, but the hope among many traders is that the infections sweeping through parts of the nation will prove manageable. Tensions between the U.S. and China have been growing after Beijing asserted broad new powers to rein in opposition in Hong Kong, pouring cold water over hopes the world's largest economies will patch up relations soured by a lingering trade spat. Stocks in Shanghai powered ahead for a seventh day. Investors have been drawn to China's markets amid efforts by regulators to boost the attractiveness of stocks and hopes for an economic recovery. European shares gave up gains early in the trading session after Hungarian Prime Minister Viktor Orban said regional leaders will probably fail to agree on a massive spending plan aimed at reviving their economies. Negotiations at a summit next week will be "very tough" and will likely need to continue throughout the summer. Currently the TSX is up 0.43% and the DJIA is up 0.41%. EURCAD is down 0.03% trading between 1.5320 and 1.5369. GBPCAD is down 0.07 trading between 1.7018 and 1.7088. JPYCAD is down 0.38% trading between 0.01258 and 0.01266. Gold is up 0.96% trading between $1,791 - $1,817USD/oz. Silver is up 2.24% trading between $18.24 - $18.75. Oil (WTI crude) is down 0.07% trading between $40.23 - $40.84.

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