Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver April 12, 2019

USDCAD spot rate: 1.3325 - 1.3330 (as at 8:03am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. consumer sentiment index: 96.9 (exp 98.0 / prev 98.4)

Event Calendar:

Yesterday, USDCAD climbed from 1.3308 up to 1.3396 (testing the weekly high) before falling back to hold a narrow 1.3365 – 1.3385 range for the balance of the session. The USD and JPY have broadly weakened today as global equity markets surge higher on the back of much stronger than expected trade data out of China (Exports: 14.2% exp 7.3% prev -20.8% / Trade surplus: $32.64 billion exp $7.05 billion prev $4.08 billion). The USD index has fallen towards a 2 week low while the JPY is nearing a 4 month low against the CAD. The AUD is the top performer today taking full advantage of the positive market sentiment nearing a 2 month high against the USD. The EUR is the 2^nd best performer nearing a 3 week high against the USD after industrial production data was not as bad as initially feared (-0.2% exp -0.6% prev revised from 1.4% up to 1.9%). USDCAD began the day near 1.3380 and has fallen towards range lows near 1.3313. Oil prices have tested the $64.70 level for the 4^th time this week and have again backed off sending USDCAD back up towards North American opening levels at 1.3338. The pairing has since eased lower towards 1.3320. Currently, the TSX and the DJIA are near historical highs – up 0.32% and 0.75% respectively. EURCAD is up 0.25% trading between 1.5049 and 1.5102 – near 2 week highs. GBPCAD is unchanged trading between 1.7415 and 1.7497 – near the midpoint of its recent 1.73 – 1.78 range. JPYCAD is down 0.55% trading between 0.01189 and 0.01198 – near 4 month lows. Gold is up 0.15% trading between $1,288 and $1,296USD/oz, silver is up 0.60% trading between $14.95 and $15.12USD/oz, while oil (WTI crude) is up 0.60% trading between $63.73 and $64.70 – near 5 month highs.

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