Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 14, 2020


USDCAD spot rate: 1.3250 - 1.3255 (as at 7:49am PST)

Ranges:

Asia:

1.3213

to

1.3235

Europe:

1.3206

To

1.3254

North America:

1.3230

to

1.3271

Technical Support / Resistance:

S2

S1

R1

R2

1.3190

1.3230

1.3270

1.3350

Key Economic Data Releases:

- Canada manufacturing sales: 20.7% exp 16.4% prev 11.6%

- U.S. retail sales: 1.2% exp 1.9% prev 8.4% ex autos: 1.9% exp 1.3% prev 8.3%

- U.S. retail sales control group: 1.4% exp 0.8% prev 6%

- U.S. industrial production: 3% exp 3% prev 5.7%

- U.S. consumer sentiment index: 72.8 exp 72 prev 72.5

Event Calendar:

Date

Canada

U.S.A.

Aug 17

Aug 18

Aug 19

Aug 20

Aug 21

Int'l securities transactions

CPI

Retail sales, new housing price index

NY Empire state mfg. index

Building permits, housing starts

Crude oil stocks change, FOMC minutes

Jobless claims, Philly Fed mfg. survey

Markit mfg. PMI, existing home sales

Yesterday, the CAD was the best performing currency as USDCAD dipped from 1.3258 down to 1.3192 (lowest since Feb. 21) before climbing to 1.3240. Today, the CAD is the worst performing currency. USDCAD initially dropped from 1.3235 down to 1.3206 overnight before climbing to 1.3254. Better than expected Canadian manufacturing data along with weaker U.S. retail sales data resulted in a move back to 1.3230. This was short-lived and USDCAD has since pushed higher to 1.3271. Overall, current rates offer a prime buying opportunity according to the Bank of Montreal which has the fair-value pegged closer to 1.3400. Currently, the TSX and the DJIA are marginally lower holding near 5.5 month highs. EURCAD has rebounded from a 3 week low - up 0.30% trading between 1.5604 and 1.5683. GBPCAD has rebounded from a 2 week low - up 0.55% trading between 1.7257 and 1.7400. JPYCAD has moved higher from a 2 month low - up 0.60% trading between 0.01235 and 0.01244. Gold is down 0.32% trading between $1,939 - $1,962USD/oz after hitting a historical high of $2,075 last Friday. Silver is down 2.4% trading between $26.31 - $27.73 after reaching a 7 year high near $30 last Friday. Oil (WTI crude) has been flat since early June and continues to trade near 5.5 month highs. It's down 0.55% on the day trading between $42.04 - $42.83.

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