Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 30, 2017

USDCAD spot rate: 1.2968 - 1.2973 (as at 7:23am PST)

Ranges:

Asia:

1.2970

to

1.2995

Europe:

1.2970

to

1.3003

North America:

1.2946

to

1.2995

Technical Support / Resistance:

S2

S1

R1

R2

1.2855

1.2945

1.3045

1.3160

Key Economic Data Releases:

- Canada GDP (April): 0.2% (exp 0.2% / prev 0.5%)

- Canada industrial product price index: -0.2% (0.3% / prev 0.6%) y/y: 4.9% (prev 6.3%)

- Canada raw materials price index: -1.8% (exp -1.0% / prev 1.6%) y/y: 8.0% (prev 17.7%)

- U.S. core PCE price index m/m: 0.1% (exp 0.1% / prev 0.1%) y/y: 1.4% (exp. 1.4% /prev 1.5%)

- U.S. personal income: 0.4% (exp 0.3% / prev 0.3%) spending: 0.1% (exp 0.1% / prev 0.4%)

- U.S. Chicago PMI: 65.7 (exp 58.0 / prev 59.4)

- U.S. consumer sentiment index: 95.1 (exp 94.5 / prev 94.5)

Key Event Calendar:

Date

Canada

U.S.A.

July 3

July 4

July 5

July 6

July 7

Canada Day Holiday

RBC manufacturing PMI

Trade balance, building permits

Net employment change, unemployment rate, Ivey PMI

ISM manufacturing PMI, construction spending

Independence Day

Factory orders, FOMC minutes

ADP employment, trade balance, ISM non-mfg

Non-farm payrolls, unemployment rate, avg. hourly earnings

Yesterday, USDCAD dropped from 1.3040 down to 1.3005 before bouncing back to 1.3045. The pairing then dropped to 1.2986 before bouncing back to 1.3033. Although the pair officially closed the day above the psychological 1.30 level, USDCAD did ease lower towards 1.2990 in late trade. In early North American trade this morning, USDCAD fell below the 2017 low (Feb) of 1.2968 to 1.2955 before bouncing back to 1.2985. Canadian GDP came in as expected and USDCAD dropped to 1.2946 – the lowest level since Sept of 2016. The pairing then bounced to 1.2995 on better than expected U.S. data / broad-based USD strength. Another move to 1.2960 has been followed by a bounce to 1.2985. Currently, the TSX is down 0.51% while the DJIA is up 0.42%. EURCAD is down 0.40% trading between 1.4781 and 1.4877 – still near 2 month lows. GBPCAD is down 0.40% trading between 1.6808 and 1.6915 – near 2 month lows. JPYCAD is down 0.20% trading between 0.01156 and 0.01161 – near 4.5 month lows. Gold is down 0.26% trading between $1,239 and $1,248USD/oz., silver is down 0.17% trading between $16.53 and $16.70USD/oz., while oil is up 0.80% trading between $44.86 and $45.44.

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

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