Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 22, 2019

USDCAD spot rate: 1.3185 - 1.3190 (as at 7:55am PST)

Ranges:

Asia:

1.3219

to

1.3245

Europe:

1.3203

to

1.3236

North America:

1.3185

to

1.3229

Technical Support / Resistance:

S2

S1

R1

R2

1.3070

1.3150

1.3240

1.3330

Key Economic Data Releases:

- Canada retail sales: -0.1% (exp -0.3% / prev -0.9%)

- retail sales ex autos: -0.5% (exp -0.3% / prev -0.7%)

Event Calendar:

Date

Canada

U.S.A.

Feb 25

Feb 26

Feb 27

Feb 28

Mar 1

CPI

GDP (Dec)

Housing starts, consumer confidence

Pending home sales, factory orders

GDP Q4, personal consumption expend.

ISM mfg. index, personal income / spending

Yesterday, USDCAD initially climbed from 2 week lows up to 1.3205 before revisiting the 1.3160 level on weaker than expected U.S. data. Equity markets were mostly lower on the day while the Bank of Canada reported that business investment has been less robust but is expected to gain momentum this year. "We judge that we will need to move our policy rates up into a neutral range over time, to a point where it is not stimulating or constraining economic growth. However, the path back to that neutral range is highly uncertain. We will watch the data as they come in, and use judgement." USDCAD popped back above 1.3200 on the BOC comments and quietly edged up towards 1.3230 in late NA trade. Overnight, global equity markets moved higher while oil prices climbed towards $58 – mid November highs. USDCAD dropped to 1.3203 before bouncing back to 1.3225 ahead of the Canadian retail sales data. December retail sales were not as bad as expected and the CAD has broadly rallied this morning. USDCAD has fallen back towards 1.3185 – near 2 week lows. Currently, the TSX and the DJIA are up 0.33% and 0.52% respectively. EURCAD is down 0.15% trading between 1.4947 and 1.5013 – near 3 month lows. GBPCAD is down 0.10% trading between 1.7135 and 1.7273 – near 3 week highs. JPYCAD is down 0.25% trading between 0.01190 and 0.01196 – near 2 month lows. Gold is up 0.50% trading between $1,321 and $1,331USD/oz – near 10 month highs, silver is up 0.71% trading between $15.70 and $15.94USD/oz – near 7 month highs, while oil is up 0.85% trading between $56.85 and $57.92 – near 3 1/2 month highs.

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

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