Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 30, 2020


USDCAD spot rate: 1.3320 - 1.3325 (as at 8:55am PST)

Ranges:

Asia:

1.3372

to

1.3420

Europe:

1.3358

To

1.3410

North America:

1.3317

to

1.3379

Technical Support / Resistance:

S2

S1

R1

R2

1.3140

1.3290

1.3450

1.3490

Key Economic Data Releases:

- Canadian GDP: 3% (exp 3% / prev 6.5%)

- U.S. ADP employment: 749k (exp 650k / prev 481k)

- U.S. GDP Q2: -2.1% (exp -2% / prev -2.3%)

Event Calendar:

Date

Canada

U.S.A.

Oct 1

Oct 2

Markit manufacturing PMI

Personal income / spending, jobless claims

ISM / Markit manufacturing PMI

Non-farm payrolls, unemployment rate, average hourly earnings, consumer sentiment index

The USD/CAD pair came under heavy bearish pressure during the American trading hours on Wednesday and touched a fresh weekly low of 1.3317. As of writing, the pair was down 0.40% on a daily basis at 1.3325. A new USD-selling wave hit the markets in the last hour. The fact that there were no clear catalysts behind the USD weakness suggests that month-end flows came into play toward the end of London trading. Meanwhile, the upbeat market mood, as reflected by the strong gains witnessed in Wall Street's main indexes, is helping risk-sensitive crude oil prices traction. With the barrel of West Texas Intermediate rising nearly 1.5% at $39.65, the commodity-related loonie is preserving its strength against its rivals. Earlier in the day, the data published by Statistics Canada showed that the Canadian economy expanded by 3% on a monthly basis in July as expected. On the other hand, the US Bureau of Economic Analysis third estimate revealed that the real GDP in the second quarter contracted by 31.4%. Moreover, the ADP reported that private sector employment in September rose by 749,000, compared to analysts' estimate of 650,000. Currently, the TSX is up 0.05% and the DJIA is up 1.53%. EURCAD is down 0.44% trading between 1.5635 and 1.5739. GBPCAD is up 0.42% trading between 1.7156 and 1.7295. JPYCAD is down 0.30% trading between 0.01262 and 0.01272. Gold is up 0.17% trading between $1,881 - $1,902USD/oz while silver is down 1.63% trading between $23.58 - $24.26. Oil (WTI crude) is up 1.03% trading between $38.69 - $39.91.

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