Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 31, 2020


USDCAD spot rate: 1.3420 - 1.3425 (as at 7:55am PST)

Ranges:

Asia:

1.3407

to

1.3435

Europe:

1.3405

To

1.3435

North America:

1.3409

to

1.3436

Technical Support / Resistance:

S2

S1

R1

R2

1.3333

1.3405

1.3460

1.3500

Key Economic Data Releases:

- Canada GDP (May): 4.5% exp 3.5% prev -11.7%

- U.S. personal income: -1.1% exp -0.5% prev -4.4%

- U.S. personal spending: 5.6% exp 5.5% prev 8.5%

- U.S. Chicago purchasing managers index: 51.9 exp 43.9 prev 36.6

- U.S. consumer sentiment index: 72.5 exp 73 prev 73.2

Event Calendar:

Date

Canada

U.S.A.

Aug 3

Aug 4

Aug 5

Aug 6

Aug 7

BC Day

Markit manufacturing PMI

Int'l merchandise trade

Net employment change, unemployment rate, Ivey purchasing managers index

ISM Manufacturing PMI

Factory orders

ADP employment change, trade balance

Jobless claims

Non-farm payrolls, unemployment rate


Yesterday, USDCAD climbed from near 5 month lows @ 1.3334 to a 1 week high @ 1.3460 despite broad-based USD weakness. The USD index has fallen from near 3 year highs back in March (103) to 27 month lows this week (92.55). Equity and oil markets were under pressure much of the day with the DJIA down nearly 500 pts and WTI crude down nearly 6% at one point before rebounding. USDCAD did fall back to 1.3415 before moving back to hold near 1.3430. Overnight, the USD was initially under pressure during the Asian session before recovering. USDCAD continues to hold just above the 1.3400 level as equity and oil prices are under some pressure once again. Currently, the TSX is down 1.3% - still near 5 month highs. The DJIA is down 0.50% near a 2 week low. EURCAD is down 0.40% trading between 1.5831 and 1.5978 after trading near 28 month highs yesterday. GBPCAD is unchanged trading between 1.7557 and 1.7676 – near 4 month highs. JPYCAD is down 1.2% trading between 0.01266 and 0.01288 – down from 2 month highs. Gold is up 0.75% near historical highs trading between $1,955 - $1,985USD/oz. Silver is up 2.5% trading between $23.28 - $24.38 – near 7 year highs. Oil (WTI crude) is down 1.40% trading between $39.82 - $40.70 after yesterday's 6% plunge to 1 month lows.

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