Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 11, 2020

USDCAD spot rate: 1.3185 - 1.3190 (as at 8:01am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. CPI m/m: 0.4% exp 0.3% prev 0.6% y/y: 1.3% exp 1.2% prev 1%

- U.S. CPI ex food & energy m/m: 0.4% exp 0.2% prev 0.6% y/y: 1.7% exp 1.6% prev1.6%

Event Calendar:

Yesterday, USDCAD initially dropped from 1.3167 down to 1.3120 before climbing to 1.3200. The pair closely tracked equity market flows which were positive in the opening hour only to move lower and finish the day with steep losses. Overnight, it was a similar story with North American equity futures pointing to gains. That led to USDCAD retracing a good portion of yesterday's move with a fall from 1.3195 down to 1.3150. The move lower was short-lived as equity indexes moved into negative territory while oil prices fell back below the $37 level. USDCAD climbed back towards session highs at 1.3194. U.S. inflation data was a touch higher than expected and the USD has recovered the bulk of its overnight losses this morning despite equity markets swinging back into positive territory. Currently, the TSX is up 90 pts while the DJIA is up 200 pts after having fallen by as much as 600 pts yesterday. EURCAD is unchanged trading between n 1.5571 and 1.5637 - near 3 week highs having risen from 7 week lows at the start of the week. GBPCAD is down 0.20% near 5 month lows trading between 1.6811 and 1.6935. JPYCAD is unchanged trading between 0.01237 and 0.01243. Gold is up 0.25% trading between $1,937 - $1,954USD/oz. Silver is up 0.40% trading between $26.57 - $27.03. Oil (WTI crude) is up 0.40% trading between $36.72 - $37.55 – near 3 month lows.