Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 26, 2018

USDCAD spot rate: 1.3120 - 1.3125 (as at 7:53am PST)

Ranges:

Asia:

1.3069

to

1.3117

Europe:

1.3105

to

1.3155

North America:

1.3120

to

1.3160

Technical Support / Resistance:

S2

S1

R1

R2

1.3015

1.3065

1.3160

1.3200

Key Economic Data Releases:

- U.S. GDP Q3: 3.5% (exp 3.3% / prev 4.2%)

- U.S. GDP price index Q3: 1.4% (exp 2.1% / prev 3.3%)

- U.S. core personal consumption expenditure Q3: 1.6% (exp 1.8% / prev 2.1%)

- U.S. consumer sentiment index: 98.6 (exp 99.0 / prev 99.0)

Event Calendar:

Date

Canada

U.S.A.

Oct 29

Oct 30

Oct 31

Nov 1

Nov 2

GDP (Aug)

Markit mfg. index

Net employment change, % rate, int'l merchandise trade

Personal income / spending, core PCE price index

Case Shiller home price indices

Chicago purchasing managers index

ADP employment change, Markit / ISM mfg. index

Non-farm payroll, unemployment rate, avg hourly earnings, trade balance

Yesterday, USDCAD dropped from 1.3058 down to 1.3015 before climbing to 1.3098. Despite a strong recovery in equities and broad positive market / risk-on sentiment, USDCAD held near the highs in a 1.3065 – 1.3087 range for most of the NA session. Overnight, the pairing broke above 1.3100 in late Asian trade as risk sentiment soured once again. Gains extended to 1.3155 ahead of the U.S. GDP (Q3) report which came in higher than expected although the price index measures that the U.S. Fed gauges to track inflation were surprisingly weak. USDCAD dropped to 1.3130 on the news before climbing to 1.3160. After briefly paring losses after the U.S. GDP report, U.S. and Canadian equity markets have fallen sharply erasing yesterday's gains. The USD index (DXY) surged to 96.86 overnight – close to the 97.00 highs dating back to Aug. 15th of this year and June of 2017. The trend has reversed course in the past few hours with the USD erasing its overnight gains. USDCAD has fallen to 1.3113 accordingly. Currently, the TSX is down 1% trading near 2 year lows while the DJIA is down 2% near 4 month lows. EURCAD is up 0.50% trading between 1.4864 and 1.4956 – near 1 year lows. GBPCAD is up 0.41% trading between 1.6747 and 1.6853 – near 1 year lows. JPYCAD is up 1.13% trading between 0.01163 and 0.01176 – near 6 week highs. Gold is up 0.35% trading between $1,230 and $1,239USD/oz., silver is up 0.40% trading between $14.55 and $14.73USD/oz., while oil is unchanged trading between $66.17 and $67.02 – near 2 month lows.

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

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