Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 25, 2019

VBCE Daily Foreign Exchange Update for Friday, Jan. 25, 2019

USDCAD spot rate: 1.3260 - 1.3265 (as at 8:11am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. durable goods orders: *delayed due to gov't shutdown (exp 0.2% / prev 0.4%)

- U.S. new home sales: *delayed due to gov't shutdown (exp 97.0 / prev 98.3)

Event Calendar:

Yesterday, USDCAD climbed from 1.3345 up to 1.3375 (3 week high) before falling back to 1.3333. The pairing then climbed back to hold near 1.3350/60 for the balance of the session. USDCAD opened today near 1.3360 – the 4^th consecutive day that the 1.3360 – 1.3370 level has been tested. Positive market sentiment and higher oil prices (near 2 month highs) during the Asian session saw USDCAD fall to 1.3311 amidst broad USD weakness. Reports that Trump advisor Roger Stone had been arrested saw the USD fall further – taking USDCAD down to 1.3238 this morning – a 2 week low. There has been a corrective bounce to 1.3270 followed by another move lower. Key U.S. economic data continues to be delayed as we enter day 34 of the record U.S. government shutdown. Currently, the TSX and the DJIA are up 0.57% and 1% respectively – near 7 week highs. EURCAD is up 0.15% trading between 1.5067 and 1.5128 – near 2 month lows. GBPCAD is up 0.20% trading between 1.7374 and 1.7531 – near 7 month highs. JPYCAD is down 0.75% trading between 0.01207 and 0.01218 – near 1 month lows. Gold is up 1.40% trading between $1,280 and $1,300USD/oz – near 7 month highs, silver is up 2.2% trading between $15.29 and $15.68USD/oz – near 6 month highs, while oil is up 0.41% trading between $52.99 and $54.01 – near 2 month highs.

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