Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 16, 2020

USDCAD spot rate: 1.3195 - 1.3200 (as at 8:04am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada manufacturing sales: -2% exp -1.4% prev 7.2%

- U.S. retail sales: 1.9% exp 0.7% prev 0.6% ex autos: 1.5% exp 0.5% prev 0.5%

- U.S. industrial production: -0.6% exp 0.5% prev 0.4%

- U.S. consumer sentiment index: 81.2 exp 80.5 prev 80.4

Event Calendar:

Yesterday, USDCAD climbed from 1.3145 up to 1.3259 – a 1 week high amidst general negative market risk sentiment, weaker oil prices, and a broadly stronger USD. NA equity markets recouped the bulk of their losses sending USDCAD back down towards 1.3215. Overnight, equities turned positive for the first time in 4 days with European bourses leading the way with near 2% gains. U.S. markets are following with strong gains early on. Currencies remain confined to relatively narrow ranges with the broad USD index holding near 2 week highs. USDCAD climbed to 1.3237 overnight but has since retreated to 1.3191. A rally higher stalled at 1.3218 and USDCAD is back down testing session lows. Currently, the TSX and the DJIA are up 0.20% and 1% respectively. EURCAD is unchanged trading between 1.5464 and 1.5510 - near 3 month lows. GBPCAD is down 0.20% trading between 1.6990 and 1.7121 – near 5 week lows. JPYCAD is unchanged trading between 0.01252 and 0.01257 – near a 2 week high. Gold is down 0.38% trading between $1,899 - $1,914USD/oz while silver is up 0.25% trading between $24.12 - $24.52 – both mid-range for the past few weeks. Oil (WTI crude) is down 0.60% trading between $40.35 - $41.31 – near 6 week highs. Oil was down near 4 month lows two weeks ago.