Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 8, 2018

USDCAD spot rate: 1.3107 - 1.3112 (as at 8:34am PST)

Ranges:

Asia:

1.3108

to

1.3126

Europe:

1.3087

to

1.3108

North America:

1.3092

to

1.3113

Technical Support / Resistance:

S2

S1

R1

R2

1.3015

1.3050

1.3120

1.3170

Key Economic Data Releases:

- Canada housing starts: 206,000 (exp 200,000 / prev 190,000)

- Canada new housing price index: 0% (exp 0.1% / prev 0%)

- U.S. Fed interest rate decision: TBA 11:00am (exp 2.25% / prev 2.25%)

Event Calendar:

Date

Canada

U.S.A.

Nov 12

Nov 13

Nov 14

Nov 15

Nov 16

Remembrance Day

Veteran's Day

CPI

Retail sales

Industrial production

Yesterday, USDCAD had a volatile Asian session trading between 1.3103 – 1.3159 as the U.S. midterm results filtered in. Once it was confirmed that the Democrats had won the House, broad-based USD weakness took USDCAD down to 1.3056. USDCAD remained below 1.3100 in early North American trading before a climb to 1.3120 as oil prices dropped to 8 month lows and U.S. equity markets surged higher. Range-trading prevailed again overnight with USDCAD holding a narrow 40 pt. range as markets await the 11:00am U.S. Fed interest rate policy statement. Currently, the TSX and the DJIA are relatively unchanged. EURCAD is down 0.20% trading between 1.4939 and 1.5004 – near 2 week highs. GBPCAD is down 0.22% trading between 1.7142 and 1.7234 – near 14 week highs. JPYCAD is down 0.35% trading between 0.01150 and 0.01155 – near 1 month lows. Gold is down 0.16% trading between $1,220 and $1,227USD/oz., silver is down 0.80% trading between $14.36 and $14.58USD/oz., while oil is down 0.78% trading between $60.80 and $62.39 – near 8 month lows.

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

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