Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 16, 2018


USDCAD spot rate: 1.3140 - 1.3145 (as at 8:17am PST)

Ranges:

Asia:

1.3151

to

1.3190

Europe:

1.3148

to

1.3175

North America:

1.3127

to

1.3188



Technical Support / Resistance:

S2

S1

R1

R2

1.3090

1.3127

1.3190

1.3240


Key Economic Data Releases:

- Canada manufacturing sales: 0.2% (exp 0.1% / prev -0.4%)
- Canadian portfolio investment in foreign securities: $10.59 billion (prev -$0.29 billion)
- Foreign investment in Canadian securities: $7.70 billion (prev $2.63 billion)
- U.S. industrial production: 0.1% (exp 0.2% / prev 0.2%)

Event Calendar:

Date

Canada

U.S.A.

Nov 19
Nov 20
Nov 21
Nov 22
Nov 23


Bank of Canada Wilkins speech


Retail sales, CPI


Housing starts, building permits
Durable goods, existing home sales
Thanksgiving Day
Markit manufacturing / services index

Yesterday, USDCAD dropped from 1.3250 down to 1.3156 – a 1 week low. GBPCAD dropped more than 4 cents on Brexit concerns after 7 key UK cabinet members resigned. Overnight, the GBP recovered while the USD broadly weakened with the USD index falling to a 7 session low – it had been hovering near a 17 month high earlier this week. USDCAD tested 1.3190 in early North American trade before falling to 1.3127 after better than expected Canadian manufacturing data. The pairing has since bounced back towards 1.3160. Currently, the TSX is down 0.12% while the DJIA is up 0.16%. EURCAD is up 0.38% trading between 1.4908 and 1.4997 – near 3 week highs. GBPCAD has recovered from yesterday's 4 cent decline - up 0.20% trading between 1.6814 and 1.6944. JPYCAD is up 0.40% trading between 0.01159 and 0.01166. Gold is up 0.61% trading between $1,213 and $1,225USD/oz., silver is up 0.53% trading between $14.21 and $14.40USD/oz., while oil is up 1.20% trading between $56.38 and $57.93 – up nearly 6% from Tuesday's 1 year low.

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

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