Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 29, 2019


USDCAD spot rate: 1.3525 - 1.3530 (as at 8:18am PST)

Ranges:

Asia:

1.3481

to

1.3511

Europe:

1.3484

to

1.3517

North America:

1.3496

to

1.3547

Technical Support / Resistance:

S2

S1

R1

R2

1.3409

1.3451

1.3585

1.3620

Key Economic Data Releases:

- Bank of Canada interest rate decision: 1.75% (exp 1.75% / prev 1.75%

- https://www.bankofcanada.ca/2019/05/fad-press-release-2019-05-29/

Event Calendar:

Date

Canada

U.S.A.

May 30

May 31

GDP (March / Q1)

GDP (Q1), initial jobless claims

Personal income/spending, consumer sentiment

The Bank of Canada left interest rates unchanged for a fifth straight decision and continued to signal it sees no need to move borrowing costs anytime soon, even as it expressed growing confidence the economy is rebounding. At a rate decision today, policy makers in Ottawa said recent data have "reinforced" their view a recent slowdown at the end of 2018 and early 2019 was temporary. However, they said mounting global trade risks are "heightening uncertainty" around the outlook. "In this context, the degree of accommodation being provided by the current policy interest rates remains appropriate," the central bank said in its statement, reiterating it will remain data dependent and closely monitor developments in household spending, oil markets and global trade. The recent policy pause is a reflection of an economy only just emerging from a serious slowdown, and which remains too fragile to cope with higher rates. Even without global trade uncertainties, the recent weakness has opened up enough slack to warrant the need for simulative rates, as least for now. Currently, the TSX is down 0.78% and the DJIA is down 0.92%. EURCAD is down 0.03% trading between 1.5030 and 1.5088. GBPCAD is down 0.02% trading between 1.7052 and 1.7135. JPYCAD is up 0.25% trading between 0.01232 and 0.01237. Gold is up 0.15% trading between $1,279 and $1,285USD/oz, silver is up 0.47% trading between $14.35 and $14.48USD/oz, while oil (WTI crude) is down 2.54% trading between $57.15 and $58.96.

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