Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 19, 2018

USDCAD spot rate: 1.3087 - 1.3092 (as at 7:33am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada retail sales: -0.1% (exp 0.3% / prev 0.2%) ex autos: -0.4% (exp 0.2% / prev 0.8%)

- Canada CPI m/m: -0.4% (exp 0% / prev -0.1%) y/y: 2.2% (exp 2.7% / prev 2.8%)

- CPI Core common: 1.9% / prev 2.0% Median: 2.0% / prev 2.1% Trim: 2.1% / prev 2.2%

- U.S. existing home sales: 5.15m (exp 5.30m / prev 5.33m)

Event Calendar:

Yesterday, USDCAD climbed to 1.3056 before dropping to 1.3019. The pairing then climbed to 1.3087 and held a 1.3070 – 1.3088 range for the balance of the session as oil prices and equities markets were under pressure yet again. Overnight, a rebound in global equity markets and oil prices saw USDCAD ease lower to 1.3027 ahead of the Canadian retail sales and inflation reports. Both data sets were weaker than expected sending USDCAD quickly up to 1.3115/20 – a 6 week high. The move was short-lived as broad-based USD weakness saw the pairing fall back towards opening levels at 1.3080. Currently, the TSX and the DJIA are up 0.91% and 0.65% respectively. EURCAD is up 0.27% trading between 1.4931 and 1.5042 – near 3 week highs. GBPCAD is up 0.26% trading between 1.6964 and 1.7093 – near 2 week lows. JPYCAD is down 0.26% trading between 0.01157 and 0.01166 – near 1 month highs. Gold is up 0.16% trading between $1,223 and $1,231USD/oz., silver is up 0.65% trading between $14.53 and $14.71USD/oz., while oil is up 1% trading between $68.53 and $69.75 – near 1 month lows.

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