Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 15, 2019

USDCAD spot rate: 1.3275 - 1.3280 (as at 8:10am PST)










North America:




Technical Support / Resistance:









Key Economic Data Releases:

- Canadian portfolio investment in foreign securities: -$0.43 billion (prev -$4.98 billion)

- Foreign investment in Canadian securities: -$18.96 billion (prev $10.24 billion)

- NY Empire state manufacturing index: 8.8 (exp 7.0 / prev 3.9)

- U.S. industrial production: -0.6 (exp 0.1% / prev 0.1%)

- U.S. consumer sentiment index: 95.5 (exp 93.0 / prev 91.2)

Event Calendar:




Feb 18

Feb 19

Feb 20

Feb 21

Feb 22

Family Day

Wholesale sales

Retail sales

President's Day

Retail sales, housing starts,FOMC minutes

Philly Fed mfg., existing home sales

Consumer sentiment index

Yesterday, USDCAD initially dropped from 1.3270 down to 1.3230 on better than expected economic data out of China which propelled equity and commodity markets higher and saw the USD broadly weaken. Canadian manufacturing data and U.S. retail sales data were both quite poor sending both USD and CAD lower across the board. The CAD was hit harder as oil prices moved lower and North American equities opened weaker as well. USDCAD climbed to 1.3338, marginally higher than last week's 1.3330 high and the highest level in nearly 3 weeks. The move higher failed to hold and within 3 hours, USDCAD dropped back to 1.3276/81. Equity markets and oil prices sharply reversed paring earlier losses while the USD broadly weakened. U.S. 4th quarter GDP was drastically revised lower by the Atlanta Fed – from 2.7% down to 1.5% while other institutions lowered expectations by about 0.5% as well. U.S. data disappointed again this morning sending the USD broadly lower from 1.3314 down to 1.3256. North American equity markets continue to surge higher on hopes that the U.S. Fed will be forced to keep interest rates low amidst the recent weakness in U.S. data and lower economic growth outlook. Currently, the TSX and the DJIA are both up 1%. EURCAD is down 0.35% trading between 1.4927 and 1.5026 – near 3 month lows. GBPCAD is up 0.20% trading between 1.6982 and 1.7059 – near 1 month lows. JPYCAD is down 0.15% trading between 0.01199 and 0.01207 – near 2 month lows. Gold is up 0.20% trading between $1,306 and $1,320USD/oz – near 9 month highs, silver is down 0.12% trading between $15.44 and $15.72USD/oz – near 7 month highs, while oil is up 1.50% trading between $54.64 and $55.98 – near 3 month highs.

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


Follow us

Follow us on Twitter @vbcefx


The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.