Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 29, 2020

USDCAD spot rate: 1.3371 - 1.3376 (as at 8:07am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Fed interest rate decision: 11am

- U.S. pending home sales:16.6% (exp 15% / prev 44.3%)

Event Calendar:

U.S. stocks climbed on speculation the Federal Reserve will signal continued economic stimulus and as traders sifted through a batch of corporate earnings. Bonds rise and the dollar fell. The S&P extended its July rally and was on track for a fourth consecutive monthly gain. As earnings season rolls in, traders will be looking for corporate outlooks to gauge a potential rebound from the coronavirus-induced recession. The Federal Open Market Committee is all but certain to keep its benchmark rate unchanged and reinforce the message that it will do whatever it can to support the recovery. The Fed will release a statement at 11am, and Chairman Jerome Powell will hold a press conference 30 minutes later. Quarterly forecasts are not due to be updated at this meeting. Currently, the TSX is up 0.44% and the DJIA up 0.17%. EURCAD is up 0.28% trading between 1.5659 and 1.5722. GBPCAD is up 0.15% trading between 1.7265 and 1.7353. JPYCAD is down 0.07% trading between 0.01270 and 0.01273. Gold is down 0.01% trading between $1,941 - $1,964USD/oz. Silver is down 0.41% trading between $23.94 - $24.51. Oil (WTI crude) is up 0.50% trading between $40.90 - $41.60.