Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 23, 2020


USDCAD spot rate: 1.3425 - 1.3430 (as at 6:39am PST)

Ranges:

Asia:

1.3400

to

1.3420

Europe:

1.3371

To

1.3395

North America:

1.3385

to

1.3427

Technical Support / Resistance:

S2

S1

R1

R2

1.3300

1.3370

1.3500

1.3575

Key Economic Data Releases:

- U.S. Initial Jobless claims 1416k (1300k exp.) 1307k previous

Event Calendar:

Date

Canada

U.S.A.

July 24

Markit manufacturing, new home sales

Oil erased gains to trade near $44 a barrel in London as concerns persisted over dwindling demand and growing supplies. Stocks have opened lower in North America as well.

Brent futures dropped as much as 1.2% as China's cooling oil consumption hurt prices for Iraqi crude, while derivatives that help value North Sea grades showed renewed weakness. In the U.S., crude stockpiles expanded unexpectedly, and jobless claims rose for the first time since March.

Oil jumped earlier this week after European Union leaders agreed on a massive stimulus package, but prices have struggled to break out of a tight range this month. While the race for a coronavirus vaccine intensifies, rising infections across major economies and the imminent easing of OPEC+ output cuts is keeping a lid on further price gains amid a patchy recovery in consumption.

Currently, the TSX is down 0.18% and the DJIA up 0.20%. EURCAD is down 0.08% trading between 1.5474 and 1.5525. GBPCAD is down 0.21% trading between 1.6977 and 1.7080. JPYCAD is up 0.48% trading between 0.01247 and 0.01252. Gold is up 0.31% trading between $1,863 - $1,888USD/oz. Silver is down 0.67% trading between $22.37 - $23.12. Oil (WTI crude) is down 0.76% trading between $41.38 - $42.35.

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