Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 28, 2019



USDCAD spot rate: 1.3085 - 1.3090 (as at 7:24am PST)

Ranges:

Asia:

1.3085

to

1.3100

Europe:

1.3084

to

1.3100

North America:

1.3068

to

1.3100

Technical Support / Resistance:

S2

S1

R1

R2

1.3000

1.3068

1.3140

1.3210

Key Economic Data Releases:

- Canada GDP: 0.3% (exp 0.1% / prev 0.5%)

- Bank of Canada business outlook survey

- U.S. personal income: 0.5% (exp 0.3% / prev 0.5%) spending: 0.4% (exp 0.4% / prev 0.6%)

- U.S. core personal consumption expenditure price index y/y: 1.6% (exp 1.6% / prev 1.6%)

- U.S. Chicago purchasing managers index: 49.7 (exp 53.1 / prev 54.2)

- U.S. consumer sentiment index: 98.2 (exp 98.0 / prev 97.9)

Event Calendar:

Date

Canada

U.S.A.

July 1

July 2

July 3

July 4

July 5

Canada Day

Markit manufacturing PMI

Int'l merchandise trade

Net employment change, unemployment rate, avg. hourly wages, Ivey PMI

Markit / ISM manufacturing PMIs

Trade balance, ADP employment change

Independence Day

Non-farm payrolls, unemployment rate, avg hourly earnings

Yesterday, USDCAD moved from 1.3116 up to 1.3139 before falling to 1.3090. Since peaking at 1.3567 on May 31(within 1 cent of a 2 year high) USDCAD has fallen nearly 5 cents towards an 8 month low. Canadian GDP data beat estimates this morning sending USDCAD down to 1.3068 – the lowest level since Feb. 1 / 2019 and Nov. 7th / 2018. There has since been a move up to 1.3100 followed by a decline to 1.3080. The USD is broadly weaker today and is the worst performing currency this week and month as the USD index trades near 5 month lows. The market now awaits any trade related comments from this weekend's G20 Summit in Japan. Currently, the TSX and the DJIA are relatively unchanged holding near historical highs. EURCAD is up 0.15% trading between 1.4870 and 1.4921 – trading near 20 month lows. GBPCAD is up 0.36% trading between 1.6579 and 1.6653 – near 21 month lows. JPYCAD is unchanged trading between 0.01213 and 0.01218 – near 2 month lows. Gold is unchanged near 6 year highs trading between $1,406 and $1,424USD/oz while oil (WTI crude) is unchanged trading between $59.01 and $59.81 – near 5 week highs. Over the past 3 weeks, oil prices have jumped 18%.

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