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)

Ranges:

Asia:

1.3217

to

1.3237

Europe:

1.3200

To

1.3236

North America:

1.3191

to

1.3218

Technical Support / Resistance:

S2

S1

R1

R2

1.3145

1.3190

1.3260

1.3330

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:

Date

Canada

U.S.A.

Oct 19

Oct 20

Oct 21

Oct 22

Oct 23

BOC business outlook survey

CPI, retail sales

Building permits, housing starts

Crude oil stocks change

Jobless claims

Markit manufacturing PMI


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.

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