Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 12, 2018

USDCAD spot rate: 1.3020 - 1.3025 (as at 7:15am PST)

Ranges:

Asia:

1.3022

to

1.3042

Europe:

1.3000

to

1.3027

North America:

1.3003

to

1.3032

Technical Support / Resistance:

S2

S1

R1

R2

1.2950

1.3000

1.3070

1.3110

Key Economic Data Releases:

- U.S. consumer sentiment index: 99.0 (exp 100.4 / prev 100.1)

Event Calendar:

Date

Canada

U.S.A.

Oct 15

Oct 16

Oct 17

Oct 18

Oct 19

BOC business outlook survey

Manufacturing shipments

Retail sales, CPI

Retail sales

Industrial production

Housing starts, building permits, FOMC min.

Philadelphia Fed manufacturing survey

Existing home sales

Yesterday, USDCAD initially dropped from 1.3065 down to 1.3023 on the back of weaker than expected U.S. inflation data that also saw equity markets recover losses in the early going. The recovery was brief and as the slide continued, USDCAD climbed towards a two week / October high at 1.3070. The move was also short-lived with a subsequent fall to 1.3013. A 2nd run higher stalled at 1.3055 followed by a decline to 1.3015 with the pair holding near 1.3030 for the balance of the session. Overnight, global equity markets and commodity prices staged a recovery and the CAD was the best performing currency heading into this morning. USDCAD dropped from 1.3042 down to 1.3000 accordingly but has since bounced towards opening levels near 1.3030. Currently, the TSX is up 0.76% after having fallen 3.4% this week. The DJIA is up 1% after having lost as much as 5.6% this week. EURCAD is down 0.40% trading between 1.5026 and 1.5130 – near 2 week highs. GBPCAD is down 0.43% trading between 1.7145 and 1.7262 – near 3 month highs. JPYCAD is down 0.10% trading between 0.01156 and 0.01162 – near 1 month highs. Gold is down 0.36% trading between $1,215 and $1,225USD/oz., silver is up 0.28% trading between $14.49 and $14.70USD/oz., while oil is up 0.35% trading between $70.92 and $71.98, after having fallen 5% this week.

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

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