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


VBCE Daily Foreign Exchange Update for Friday, Mar. 22, 2019

USDCAD spot rate: 1.3405 - 1.3410 (as at 8:15am PST)

Ranges:

Asia:

1.3360

to

1.3377

Europe:

1.3352

to

1.3394

North America:

1.3380

to

1.3426

Technical Support / Resistance:

S2

S1

R1

R2

1.3260

1.3350

1.3420

1.3465

Key Economic Data Releases:

- Canada retail sales (Jan): -0.3% (exp 0.4% / prev -0.3% *revised from -0.1%)

- Canada retail sales ex-autos: 0.1% (exp 0.2% / prev -0.8% *revised from -0.5%)

- Canada CPI (Feb): 0.7% (exp 0.6% / prev 0.1%) y/y: 1.5% (exp 1.4% / prev 1.4%)

- Bank of Canada CPI core: 0.7% (exp 0.1% / prev 0.3%) y/y: 1.5% (exp 1.2% / prev 1.5%)

- U.S. Markit manufacturing PMI: 52.5 (exp 53.6 / prev 53.0)

- U.S. Markit services PMI: 54.8 (exp 56.0 / prev 56.0)

- U.S. existing home sales: 5.51m (exp 5.10m / prev 4.93m)

Event Calendar:

Date

Canada

U.S.A.

Mar 25

Mar 26

Mar 27

Mar 28

Mar 29

Int'l merchandise trade

GDP (Jan)

Housing starts, bldg. permits, consumer confidence

Trade balance

GDP Q4, pending home sales

Personal income/spending, Chicago PMI, consumer sentiment index, new home sales

Yesterday, USDCAD initially dipped from 1.3310 down to 1.3276 before climbing to 1.3400 – erasing Wednesday's move from 1.3350 down to 1.3258 (a 3 week low). The pairing then eased back to 1.3355. USDCAD edged up to 1.34 ahead of the Canadian data this morning. Retail sales were softer than expected and saw negative revisions as well. Inflation data came in higher than expected. USDCAD initially jumped to 1.3426 (a 2 week high) on the retail sales data before falling back to 1.3380 on the CPI data. The pairing has since moved up to 1.3415 and back down to 1.3387. The EURO has been hit hard today due to weak manufacturing data in the Eurozone. The JPY is the best preforming currency as most equity indices are trending lower while U.S. 10 year yields have fallen towards 16 month lows. Currently, the TSX is down 0.72% - still near 6 month highs while the DJIA is down 0.86% - still near 5 month highs. EURCAD is down 0.51% trading between 1.5105 and 1.5222 – near 1 week lows. GBPCAD is up 0.80% trading between 1.7497 and 1.7694 – near 11 month highs. JPYCAD is up 1% trading between 0.01205 and 0.01218 – near 2 month highs. Gold is up 0.26% trading between $1,300 and $1,315USD/oz, silver is down 0.30% trading between $15.36 and $15.54USD/oz, while oil is off a 5 month high - down 1.45% trading between $58.70 and $60.11.

B90fe1ad36

Follow us




Follow us on Twitter @vbcefx


Disclaimer


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.