New Retail Summer Hours! South Granville & Richmond Branches - Monday - Friday 9am-5pm; Saturdays 9:30am - 4:30pm | Downtown Monday - Friday 8:30am - 5pm.

Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 20, 2018

USDCAD spot rate: 1.3130 - 1.3135 (as at 8:03am PST)










North America:




Technical Support / Resistance:









Key Economic Data Releases:

- Canada retail sales: 2.0% (exp 1.0% / prev -0.9%* revised from -1.2%)

- Canada retail sales ex autos: 1.4% (exp 0.5% / prev 0.2%* revised from -0.1%)

- Canada CPI m/m: 0.1% (exp 0.1%/ prev 0.1%) y/y: 2.5% (exp 2.3% / prev 2.2%)

- CPI core common: 1.9% (prev 1.9%) median: 2.0% (prev 1.9%) trim 2.0% (prev 1.9%)

Event Calendar:




July 23

July 24

July 25

July 26

July 27

Wholesale sales

Existing home sales

Market manufacturing / services PMI

New home sales, crude oil inventory change

Durable goods orders

GDP Q2, Core PCE, consumer sentiment

Yesterday, USDCAD climbed from 1.3160 up to 1.3292 – a 3 week high amidst technical USD buying. The USD index (DXY) broke through a key resistance zone to trade at its highest level in 1 year. Part way through the North American session Trump commented that he was "not thrilled" with the U.S. Fed hiking interest rates and that the USD was too strong. The USD suddenly sold off taking USDCAD down to 1.3225. The move was short-lived with USDCAD bouncing back to hold near 1.3260 for the balance of the day. Overnight, there was a retest of 1.3292 followed by a decline to 1.3230 ahead of the Canadian retail sales and inflation data. After a weak performance in April, retail sales bounced back strongly in May (including positive revisions to April data). Inflation jumped more than expected to the highest annual rate in 6 years. The CAD surged on the news with USDCAD falling to 1.3115 – just shy of Monday's 1.3108 low. The pairing has since bounced to 1.3140. Currently, the TSX is down 0.29% while the DJIA is up 0.10%. EURCAD is down 0.50% after hitting a 3 week high earlier trading between 1.5360 and 1.5468. GBPCAD is down 0.40% trading between 1.7168 and 1.7279 – near 2 month lows. JPYCAD is down 0.50% trading between 0.01172 and 0.01182 – near 2 month lows. Gold is up 0.50% trading between $1,211 and $1,232USD/oz., silver is up 0.65% trading between $15.24 and $15.49USD/oz., while oil is up 0.25% trading between $69.46 and $70.45 – near 1 week highs.

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


Follow us

Follow us on Twitter @vbcefx


The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.