Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 21, 2020


USDCAD spot rate: 1.3200 - 1.3205 (as at 8:04am PST)

Ranges:

Asia:

1.3159

to

1.3190

Europe:

1.3160

To

1.3209

North America:

1.3190

to

1.3234

Technical Support / Resistance:

S2

S1

R1

R2

1.3160

1.3190

1.3230

1.3270

Key Economic Data Releases:

- Canada retail sales: 23.7% exp 24.5% prev 24.5% Ex-autos: 15.7% exp 15% prev 10.6%

- Canada new housing price index: 0.4% exp 0.1% prev 0.1%

- U.S. Markit manufacturing PMI: 53.6 exp 51.9 prev 50.9

- U.S. existing home sales: 5.86m exp 5.38m prev 4.7m

Event Calendar:

Date

Canada

U.S.A.

Aug 24

Aug 25

Aug 26

Aug 27

Aug 28

GDP (June), GDP Q2

Housing price index, new home sales

Durable goods orders, crude oil stocks change

GDP (Q2), jobless claims, pending home sales

Personal income / spending


Yesterday, USDCAD initially climbed from 1.3200 up to 1.3244 – near a 4 day. Since the release of the Fed minutes at 11:00am Wednesday, the USD has been broadly bid across the board. Equity and commodity markets were under pressure in Asia and London before recovering in North America. USDCAD abruptly moved lower to 1.3166 before finishing the day near 1.3180/85. Risk off flows resumed overnight as some Eurozone data missed estimates and Brexit uncertainties resurfaced. European equity markets dropped towards 2 week lows along with oil prices. The USD broadly gained sending the USDCAD back towards weekly highs. Similar to yesterday, North American equities are pushing higher erasing overnight losses. After hitting session highs at 1.3234 this morning, USDCAD has fallen toNA session lows near 1.3190. Currently, the TSX is down 0.60% while the DJIA is up 0.25% - both near 6 month highs. EURCAD is down 0.50% near 1 month lows trading between 1.5547 and 1.5644. GBPCAD is down 0.6% near 3 week lows trading between 1.7287 and 1.7455. JPYCAD is unchanged holding near 2 month lows trading between 0.01245 and 0.01251. Gold is down 0.50% near 2 week lows trading between $1,911 - $1,956USD/oz after failing to hold the $2,000 level for the 2nd consecutive week. Silver is down 2% trading between $26.04 - $27.54. Oil (WTI crude) is down 1.5% near 2 week lows trading between $41.81 - $43.

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