Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 20, 2017

USDCAD spot rate: 1.3273 - 1.3278 (as at 8:15am PST)

Ranges:

Asia:

1.3203

to

1.3230

Europe:

1.3211

to

1.3256

North America:

1.3252

to

1.3284

Technical Support / Resistance:

S2

S1

R1

R2

1.3165

1.3203

1.3280

1.3325

Key Economic Data Releases:

- Canada wholesale sales: 1.0% (exp 0.5% / prev 1.2%)

- U.S. current account Q1: -$116.8 billion (exp -$123.8 billion / prev -$114.0 billion)

Key Event Calendar:

Date

Canada

U.S.A.

June 21

June 22

June 23

Retail sales

CPI

Existing home sales, crude oil inventories

Manufacturing PMI, services PMI, new home sales

Yesterday, USDCAD climbed from 1.3210 up to 1.3257 before falling back to 1.3191. The move below 1.3200 was short-lived as a quick 2% reversal in oil prices saw USDCAD bounce back to 1.3230 before holding in a 1.3215-1.3225 range for the balance of the session. Oil prices have continued lower today – down another 3% to a 7 month low. USDCAD has traded higher testing the 1.3280 level a few times with pull-backs limited to 1.3252 thus far. The GBP is the worst performing currency after Bank of England Governor Carney commented that "now was not the time" to raise interest rates. The GBPCAD rate has fallen to a 2 month low – levels not seen since before the snap election call. Currently, the TSX is down 0.65% while the DJIA is roughly unchanged. EURCAD is up 0.20% trading between 1.4728 and 1.4823 – still near 2 month lows. GBPCAD is down 0.75% trading between 1.6731 and 1.6862 – near 2 month lows. JPYCAD is up 0.30% trading between 0.01183 and 0.01192 – near 3 month lows. Gold is down 0.22% trading between $1,241 and $1,248USD/oz., silver is down 0.60% trading between $16.41 and $16.64USD/oz., while oil is down 3.17% trading between $42.97 and $44.66.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group

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