Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 21, 2019


VBCE Daily Foreign Exchange Update for Friday, June 21, 2019

USDCAD spot rate: 1.3215 - 1.3220 (as at 7:50am PST)

Ranges:

Asia:

1.3162

to

1.3195

Europe:

1.3177

to

1.3197

North America:

1.3188

to

1.3222

Technical Support / Resistance:

S2

S1

R1

R2

1.3070

1.3150

1.3250

1.3300

Key Economic Data Releases:

- Canada retail sales: 0.1% (exp 0.2% / prev 1.3% *revised from 1.1%)

- Canada retail sales ex autos: 0.1% (exp 0.3% / prev 1.8% *revised from 1.7%)

- U.S. Markit manufacturing PMI: 50.1 (exp 50.4 / prev 50.5)

- U.S. Markit services PMI: 50.7 (exp 51.0 / prev 50.9)

- U.S. existing home sales: 5.34m (exp 5.25m / prev 5.21m)

Event Calendar:

Date

Canada

U.S.A.

June 24

June 25

June 26

June 27

June 28

Wholesale sales

GDP, BOC business outlook survey

Consumer confidence, new home sales

Durable goods orders

GDP Q1, GDP price index

Personal income/spending, Core PCE price index, Chicago PMI, consumer sentiment

Yesterday, USDCAD dropped from 1.3390 down to 1.3151 – a 4 month low before rebounding briefly to 1.3222. The pairing then eased lower towards 1.3180 in late trade. The USD sell-off continued in early Asian trade as gold jumped to $1,411 – a 6 year high while the USD index dropped towards 3 month lows. USDCAD fell to 1.3162 before climbing back to 1.3200 ahead of the Canadian retail sales data. There was little market reaction after the release as the headline miss was offset by a positive revision to prior data. USDCAD has since revisited yesterday's NA session high of 1.3222 before falling back to 1.3210. Currently, the TSX and the DJIA are relatively unchanged holding near historical highs. EURCAD is up 0.50% trading between 1.4878 and 1.4973 – trading near 19 month lows. GBPCAD is down 0.10% trading between 1.6675 and 1.6772 – near 20 month lows. JPYCAD is down 0.10% trading between 0.01225 and 0.01231 – near 6 month highs. Gold is up 0.32% near 6 year highs trading between $1,382 and $1,411USD/oz, silver is down 1% trading between $15.16 and $15.55USD/oz, while oil (WTI crude) is up 1% trading between $56.67 and $57.99 – near 1 month highs. Over the past 8 days, oil prices have jumped 14%.

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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.