Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 21, 2018

USDCAD spot rate: 1.3550 - 1.3555 (as at 8:08am PST)

Ranges:

Asia:

1.3492

to

1.3513

Europe:

1.3492

to

1.3542

North America:

1.3511

to

1.3564

Technical Support / Resistance:

S2

S1

R1

R2

1.3415

1.3485

1.3564

1.3600

Key Economic Data Releases:

- Canada GDP (Oct): 0.3% (exp 0.2% / prev -0.1%)

- Canada retail sales: 0.3% (exp 0.4% / prev 0.1%) ex autos: 0% (exp 0.2% / prev 0.1%)

- U.S. GDP Q3 annualized: 3.4% (exp 3.5% / prev 3.5%)

- U.S. GDP price index Q3: 1.5% (exp 1.4% / prev 1.4%)

- U.S. consumer sentiment index: 98.3 (exp 95.5 / prev 97.5)

- U.S. personal income: 0.2% (exp 0.3% / prev 0.5%) Spending: 0.4% (exp 0.3% / prev 0.8%)

- U.S. core personal consumption expenditure Q3: 1.6% (exp 1.5% / prev 2.1%)

- U.S. durable goods orders: 0.8% (exp 1.6% / prev -4.3%)

Event Calendar:

Date

Canada

U.S.A.

Dec 24

Dec 25

Dec 26

Dec 27

Dec 28

Christmas Day

Boxing Day

Christmas Day

Home price indices

New home sale, consumer confidence

Pending home sales, Chicago PMI

Yesterday, USDCAD climbed from 1.3446 up to 1.3532 before easing back to 1.3485. Global equity markets sold off heavily yet again and are now in negative territory for 2018. Overnight USDCAD climbed to 1.3542 before a quick move 1.3564 – a 19 month high after the Canadian retail sales and GDP data were released. The pairing pulled back to 1.3530 before climbing to retest the 1.3564 level after the Bank of Canada Business Outlook survey (Q4) was released (2.2 vs. 2.8 prior). USDCAD then dropped to 1.3511 after a U.S. Fed member said that this week's FOMC statement "wasn't a promise to raise rates again." Equity markets climbed higher on these comments but have since eased back. USDCAD has since moved back to 1.3555. Currently, the TSX is unchanged while the DJIA is up 0.42%. EURCAD is unchanged trading between 1.5391 and 1.5491 – near 6 month highs. GBPCAD is up 0.53% trading between 1.7068 and 1.7188. JPYCAD is up 0.47% trading between 0.01211 and 0.01220 – 8 month highs. Gold is unchanged trading between $1,256 and $1,267USD/oz – near 6 month highs, silver is down 0.50% trading between $14.61 and $14.79USD/oz., while oil is down 0.26% trading between $45.19 and $46.83 – 16 month lows.

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

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