Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 13, 2018

USDCAD spot rate: 1.3160 - 1.3165 (as at 7:48am PST)

Ranges:

Asia:

1.3150

to

1.3169

Europe:

1.3157

to

1.3204

North America:

1.3160

to

1.3211

Technical Support / Resistance:

S2

S1

R1

R2

1.3060

1.3150

1.3220

1.3270

Key Economic Data Releases:

- U.S. consumer sentiment index: 97.1 (exp 98.2 / prev 98.2)

Event Calendar:

Date

Canada

U.S.A.

July 16

July 17

July 18

July 19

July 20

Manufacturing shipments

Retail sales, CPI

Retail sales

Industrial production, Fed Powel speech

Housing starts, building permits

Philly Fed manufacturing survey

Yesterday, USDCAD declined from 1.3218 down to 1.3148 after having surged from 1.3063 up to 1.3221 on Wednesday. Oil prices stabilized above $70 after having fallen to $69.21 (nearly a combined 24 hour drop of 7% from Wednesday's high of $74). Overnight, reports that Trump wanted a "Hard" Brexit and that UK PM Theresa May's preference for a "Soft" Brexit would "affect trade with the United States, unfortunately in a negative way". The GBP and EUR dropped overnight while the USD index climbed to 95.24 – a 2 week high. The trend changed this morning as Trump confirmed the earlier reports were "fake news" and that he did not criticize PM May and that he did not want any trade restrictions. The USD has broadly weakened this morning erasing its overnight gains vs. most currencies. USDCAD briefly traded above 1.32 this morning but failed to challenge yesterday's high. The pairing has fallen back towards opening levels near 1.3150. Oil prices are moving higher today back up towards yesterday's $71 high. Currently, the TSX is unchanged while the DJIA is up 0.30%. EURCAD is unchanged trading between 1.5310 and 1.5367 – near 1 week lows. GBPCAD is up 0.15% trading between 1.7294 and 1.7404 – near 1 month lows. JPYCAD is up 0.14% trading between 0.01167 and 0.01173 – near 2 month lows. Gold is down 0.40% trading between $1,236 and $1,248USD/oz., silver is down 1.17% trading between $15.76 and $15.99USD/oz., while oil is up 0.65% trading between $69.81 and $70.92 – near 3 week lows.

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

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