Daily Foreign Exchange Update for June 18, 2026

Spot Rates:

• USDCAD: 1.4015 - 1.4120 (as at 7:05am PST)
• Asia: 1.4094 to 1.4112
• Europe: 1.4117 To 1.4131
• North America: 1.4110 to 1.4134

Technical Support / Resistance:

• S2 1.4000
• S1 1.4070
• R1 1.4140
• R2 1.4190

Important events we're watching this week:

• June 19, USA, Initial jobless claims
• June 19, USA, Existing home sales

Market Spotlight

The USD/CAD exchange rate is trading around the 1.4120 level, with the US Dollar gaining strength. This upward momentum is driven by a hawkish Federal Reserve interest rate outlook and falling crude oil prices, which continue to weigh on the Canadian Dollar.

• Federal Reserve Stance: The Federal Reserve held rates steady but issued updated economic projections showing that roughly half of policymakers expect at least one additional rate hike this year.

• Slumping Oil Prices: WTI crude prices have dropped into the $70s due to preliminary US-Iran deals and forecasts of future crude surpluses. Because Canada is a major oil exporter, falling oil prices directly pressure the loonie.

• Technical Levels: The pair has broken past the 1.4100 mark, with immediate resistance flagged near 1.4140, though overbought signals suggest there could be temporary pullback risks.

• Currently, the TSX is up 0.11% while the DJIA is up 0.53%.
• EURCAD is down 0.23% trading between 1.6175 and 1.6260.
• GBPCAD is down 0.25% trading between 1.8655 and 1.8794.
• JPYCAD is down 0.05% trading between 0.008766 and 0.008786.
• Gold is down 2.19% trading between $4,253 - $4,330 USD/oz.
• Silver is down 4.67% trading between $67.16 - $70.43 USD/oz.
• Oil (WTI crude) is down 1.81% trading between $74.13 and $76.41.