Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 22, 2018

USDCAD spot rate: 1.3330 - 1.3335 (as at 8:28am PST)

Ranges:

Asia:

1.3292

to

1.3320

Europe:

1.3260

to

1.3302

North America:

1.3266

to

1.3382

Technical Support / Resistance:

S2

S1

R1

R2

1.3260

1.3310

1.3350

1.3380

Key Economic Data Releases:

- Canada retail sales (April): -1.2% (exp 0% / prev 0.8%) ex autos: -0.1% (exp 0.5% / prev 0%)

- Canada CPI (May) m/m: 0.1% (exp 0.3% / prev 0.3%) y/y: 2.2% (exp 2.5% / prev 2.2%)

- Canada CPI core common: 1.9% (prev 1.9%) median: 1.9% (prev 1.9%) trim: 1.9% (prev 2.1%)

- U.S. Markit manufacturing PMI: 54.6 (exp 56.5 / prev 56.4)

- U.S. Markit services PMI: 56.5 (exp 56.4 / exp 56.8)

Event Calendar:

Date

Canada

U.S.A.

June 25

June 26

June 27

June 28

June 29

GDP, BOC business outlook survey

New home sales

Home price indices, Rmd Fed mfg. index

Durable goods orders, pending home sales

GDP (Q1 annualized)

Personal income / spending, Chicago PMI

Yesterday, USDCAD climbed from 1.3316 up to 1.3335 before falling to 1.3283. The pairing then made a 2nd run stalling at 1.3331 and fell back to 1.3295. A 3rd run late in the session stalled at 1.3320. Overnight, USDCAD declined to 1.3260 on broad-based USD weakness. USDCAD spiked to 1.3382 at 5:30am as both Canadian retail sales (April) and inflation data (May) missed estimates. The move was short-lived with USDCAD falling back to today's opening level near 1.3309. Positive market sentiment appears to be holding through the NA session while oil prices have surged nearly 4% on the back of positive comments from OPEC. The market may have been anticipating a higher level of increased production given estimates that oil demands in the 2nd half of this year could increase by 2 million barrels per day. OPEC announced an increase of 1 million bpd. A second move higher stalled just shy of 1.3350 and USDCAD has since fallen back below 1.3320. Currently, the TSX and the DJIA are up 0.90% and 0.52% respectively. EURCAD is up 0.50% trading between 1.5430 and 1.5585 – near 2 month highs. GBPCAD is up 0.30% trading between 1.7625 and 1.7772 – near 2 month highs. JPYCAD is up 0.20% trading between 0.01203 and 0.01214 – near 3 month highs. Gold is unchanged trading between $1,266 and $1,271USD/oz., silver is up 0.46% trading between $16.30 and $16.46USD/oz., while oil is up 3.63% trading between $66.13 and $68.19.

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

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