Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver April 26, 2019

USDCAD spot rate: 1.3455 - 1.3460 (as at 8:22am PST)

Ranges:

Asia:

1.3468

to

1.3484

Europe:

1.3474

to

1.3498

North America:

1.3451

to

1.3495

Technical Support / Resistance:

S2

S1

R1

R2

1.3340

1.3420

1.3520

1.3575

Key Economic Data Releases:

- U.S. GDP Q1 prelim: 3.2% (exp 2.0% / prev 2.2% *revised from 2.6%)

- U.S. GDP price index: 0.6% (exp 1.3% / prev 1.9%)

- U.S. consumer sentiment: 97.2 (exp 97.0 / prev 96.9)

Event Calendar:

Date

Canada

U.S.A.

Apr 29

Apr 30

May 1

May 2

May 3

GDP (Feb)

Markit manufacturing index

PCE price index, personal income / spending

Chicago PMI, consumer confidence

ISM / market manufacturing index

Initial jobless claims, factory orders

Non-farm payrolls, avg hourly earnings, ISM non-mfg / Market services index

Yesterday, USDCAD climbed from 1.3482 up to 1.3517 – just shy of Wednesday's 1.3522 high, before falling back to 1.3475. Overnight, USDCAD moved back up to 1.3498 but has fallen to 1.3451 this morning despite oil prices down 4.3% on the day. Oil was 6% higher up at $66.40 – near 6 month highs just two days ago. The USD is broadly weaker this morning after the USD index touched a 2 year high yesterday. Although U.S. Q1 GDP was much higher than expected, Q4 data was revised lower and some components of the reading were temporary that will likely lead to a softer Q2 reading. The GDP price index (inflation) was much weaker than expected despite the surge in commodity prices during Q1. U.S. 10 year yields have slipped below 2.50% - near 16 month lows. USDCAD has since corrected up to 1.3474 before testing session lows again. Currently, the TSX and the DJIA are relatively unchanged and still holding near historical highs. EURCAD is unchanged trading between 1.4987 and 1.5041 – near 2 month lows. GBPCAD is unchanged trading between 1.7365 and 1.7426 – near 2 month lows. JPYCAD is down 0.25% trading between 0.01204 and 0.01209 – near a 1 month high. Gold is up 0.75% trading between $1,275 and $1,288USD/oz, silver is up 0.75% trading between $14.92 and $15.08USD/oz, while oil (WTI crude) is down 4.30% trading between $62.31 and $65.18 – near 3 week lows.

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

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.