Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 20, 2017

USDCAD spot rate: 1.3355 - 1.3360 (as at 7:18am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada CPI m/m: -0.2% (exp -0.1% / prev -0.4%) y/y: 1.5% (exp. 1.7% / prev 1.2%)

- Canada core CPI m/m: -0.3% (exp -0.2% / prev -0.5%) y/y: 1.6% (exp 1.7% / prev 1.5%)

- Canada retail sales: 0.2% (exp 0.5% / prev 1.2%)

- Canada core retail sales: 0.1% (exp 0.2% / prev 1.4%)

- Trump inauguration speech ~ 9:00am

Key Event Calendar:

Yesterday, the uptrend in USDCAD continued as the pairing climbed from 1.3253 up to 1.3355 before easing towards 1.3325 in late trade. The pairing dipped to 1.3285 amidst broad-based USD weakness during the Asian session but the flows reversed during the London session sending USDCAD up to 1.3379. There was a quick dip down to 1.3340 ahead of the Canadian retail sales and inflation data but weaker than expected results saw the pairing bounce to 1.3388. Equity markets are higher along with oil prices ahead of the 9:00am Trump inauguration and we are seeing some minor USD weakness which has USDCAD holding near 1.3350/60 at the moment. Technically, USDCAD looks poised to retest the Dec. 28^th high of 1.36 after the swift reversal from Tuesday's 3 month low at 1.3018. Currently, the TSX and the DJIA are up 1% and 0.50% respectively. EURCAD is up 0.40% trading between 1.4190 and 1.4261. GBPCAD is up 0.20% trading between 1.6384 and 1.6472. JPYCAD is up 0.20% trading between 0.01158 and 0.01164. Gold is up 0.25% trading between $1,199 and $1,209USD/oz., silver is up 0.69% trading between $16.83 and $17.12USD/oz., while oil is up 2.45% trading between $52.16 and $53.50.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group