Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 17, 2019

USDCAD spot rate: 1.3457 - 1.3462 (as at 8:04am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. consumer sentiment index: 102.4 (exp 97.5 / prev 97.2)

Event Calendar:

Yesterday, USDCAD dropped from 1.3450 down to 1.3400 before climbing back to hold a 1.3455 - 1.3470 range for the balance of the North American session. Equity markets and commodity currencies were under pressure last night as reports suggest China has no interest in trade negotiations with the U.S. until the U.S. shows some sincerity. The GBP fell for the 9^th out of the past 10 days after Brexit talks stalled yet again. USDCAD climbed to 1.3514 - just shy of the 4 month high of 1.3522 tested back on April 24^th. Trade above 1.3500 was short-lived and the pairing has fallen to session lows at 1.3455. The DJIA winning streak looks to continue now up 4 straights days after erasing a 200 point deficit this morning. There are further details on the removal of steel and aluminum tariffs first reported Wednesday that are helping push the CAD higher – it is now the best performing currency on the day after opening today's NA session as the worst performing currency next to the GBP. Currently, the TSX is down 0.16% while the DJIA is up 0.10%. EURCAD is down 0.15% trading between 1.5016 and 1.5100 – near 6 month lows. GBPCAD is down 0.50% trading between 1.7140 and 1.7245 – near 3 month lows. JPYCAD is down 0.20% trading between 0.01223 and 0.01233 – near 4 month highs. Gold is down 0.66% trading between $1,275 and $1,289USD/oz, silver is down 1% trading between $14.38 and $14.56USD/oz – both near 5 month lows, while oil (WTI crude) is up 0.56% trading between $62.97 and $63.83 – near 7 month highs.