Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 17, 2020

USDCAD spot rate: 1.3575 - 1.3580 (as at 8:21am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada wholesale sales: 5.7% exp 8.5% prev -21.4%

- U.S. building permits: 1,241,000 exp 1,290,000 prev 1,216,000

- U.S. housing starts: 1,186,000 exp 1,169,000 prev 1,011,000

- U.S. consumer sentiment index: 73.2 exp 79 prev 78.1

Event Calendar:

Yesterday, USDCAD retraced the bulk of Wednesday's move lower (1.36 down to 1.35). Unable to break below the 1.35 mark, USDCAD rallied to 1.3545. After a brief correction down to 1.3511, the pairing climbed to hold near 1.3570-80 for the balance of the session. Wednesday saw the USD index test (and hold) the June lows before trending back higher. USDCAD has held a lackluster 1.3565 – 1.3589 range so far today. Trading ranges have been minimal within currency, commodity, and equity markets on the day thus far. The exception has been the Euro leading the pack and trading near 4 month highs vs the CAD and USD again. The EURO had fallen 1.5 cents from Wednesday's 1.5545 high but has recovered that loss today with a move to 1.5531. Currently, the TSX and the DJIA are unchanged. EURCAD is up 0.40% near 4 month highs trading between 1.5438 and 1.5531. GBPCAD is down 0.15% trading between 1.6985 and 1.7071 – near a 10 day lows after trading near 2 month highs earlier this week. JPYCAD is up 0.15% trading between 0.01263 and 0.01268 – near 7 week highs. Gold is up 0.75% trading between $1,796 - $1,811USD/oz – still holding near 9 year highs. Silver is up 1% trading between $18.93 - $19.35. Oil (WTI crude) is down 0.60% trading between $40.19 - $41.05, still holding near 4 month highs.