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


VBCE Daily Foreign Exchange Update for Monday, August 31, 2020

USDCAD spot rate: 1.3040 - 1.3045 (as at 8:41am PST)

Ranges:

Asia:

1.3072

to

1.3105

Europe:

1.3060

To

1.3098

North America:

1.3022

to

1.3070

Technical Support / Resistance:

S2

S1

R1

R2

1.3000

1.3022

1.3100

1.3160

Key Economic Data Releases:

- Canada building permits (July): -3% exp 5.5% prev 5.7%

Event Calendar:

Date

Canada

U.S.A.

Sept 1

Sept 2

Aug 3

Aug 4

Markit manufacturing

Int'l merchandise trade

Net employment, unemployment rate, Ivey purchasing manager index

Markit / ISM manufacturing

ADP employment, crude oil stocks

Trade balance, jobless claims

Non-farm payrolls, unemployment rate, Average hourly earnings

On Friday, USDCAD initially dropped from 1.3133 down to 1.3047 before climbing back to 1.3125. USDCAD opened this week at 1.3100 and has moved lower for the 5th consecutive day. The pairing has fallen to the lowest level since Jan. 8th at 1.3022 before moving back up towards 1.3060. Overall, the USD index is at its lowest level since May of 2018. The USD is now negative on the year against all major currencies with the exception of the CAD. The TSX and the DJIA are both down by roughly 1%. EURCAD is down 0.10% trading between 1.5539 and 1.5606 - near a 1 week high after having fallen to a 6 week low last Thursday. GBPCAD is down 0.30% near 3 week highs trading between 1.7378 and 1.7490. JPYCAD is down 1% trading between 0.01228 and 0.01243 – near 3 month lows. Gold is up 0.30% trading between $1,954 - $1,976USD/oz. Silver is up 2% trading between $27.48 - $28.17. Oil (WTI crude) is unchanged trading between $42.98 - $43.70 – still near 6 month highs.

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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.