Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 24, 2018

USDCAD spot rate: 1.3028 - 1.3033 (as at 8:55am PST)

Ranges:

Asia:

1.3078

to

1.3106

Europe:

1.3055

to

1.3090

North America:

1.3012

to

1.3082

Technical Support / Resistance:

S2

S1

R1

R2

1.2985

1.3012

1.3050

1.3100

Key Economic Data Releases:

- U.S. durable goods orders: -1.7% (exp -0.5% / prev 0.7%)

- U.S. durable goods ex transportation: 0.2% (exp 0.5% / prev 0.1%)

Event Calendar:

Date

Canada

U.S.A.

Aug 27

Aug 28

Aug 29

Aug 30

Aug 31

GDP (June)

Raw material / industrial product price index

Case Shiller home price indices

GDPQ2, EIA crude oil inventories

Core PCE price index, personal income/spending

Chicago PMI, consumer sentiment index

Yesterday, USDCAD reversed course trading from 1.2989 up to 1.3104 – the highest level of the week. After having fallen 6 consecutive days in a row, the USD was broadly stronger yesterday. The USD downtrend has resumed today with a rally in early Asian trade stalling at 1.3106 followed by a move to 1.3055 during the London session. Oil prices continue to gain, up 8% from last week's low and approaching the August highs. U.S. economic data missed estimates this morning while Fed chairman Powell's comments on inflation sent the USD lower again. USDCAD has fallen from 1.3082 down to 1.3012 this morning with bounces limited to 1.3047 thus far. Currently, the TSX and the DJIA are both up 0.41% and 0.51% respectively while the NASDAQ is up 0.83% to a new historical high. EURCAD is up 0.40% trading between 1.5091 and 1.5166 – 3 week highs. GBPCAD is unchanged trading between 1.6744 and 1.6809 – near 9 month lows. JPYCAD is down 0.27% trading between 0.01170 and 0.01176 – near a 1 month low. Gold is up 1.65% trading between $1,183 and $1,208USD/oz., silver is up 2% trading between $14.48 and $14.84USD/oz., while oil is up 1.75% trading between $67.83 and $69.30.

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

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