Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 27, 2017


USDCAD spot rate: 1.3100 - 1.3105 (as at 7:36am PST)

Ranges:

Asia:

1.3085

to

1.3121

Europe:

1.3103

to

1.3130

North America:

1.3095

to

1.3125

Technical Support / Resistance:

S2

S1

R1

R2

1.3050

1.3085

1.3130

1.3250

Key Economic Data Releases:

- U.S. durable goods orders: -0.4% (exp 2.6% / prev -4.8%) core: 0.5% (exp. 0.5% / prev 1.0%)

- U.S. GDP Q4 preliminary: 1.9% (exp 2.2% / prev 3.5%)

- U.S. GDP price index: 2.1% (exp 2.1% / prev 1.4%)

- U.S. consumer sentiment index: 98.5 (exp 98.1 / prev 98.1)

Key Event Calendar:

Date

Canada

U.S.A.

Jan. 30

Jan. 31

Feb. 1

Feb. 2

Feb. 3

GDP

RBC manufacturing PMI

Personal income/spending, PCE price index

Chicago PMI, consumer confidence

ADP employment, ISM mfg., Fed interest rate

Non-farm productivity, unit labour costs

Non-farm payrolls, unemployment rate, Avg hourly earnings, ISM non-mfg PMI

Yesterday, USDCAD climbed from 1.3053 up to 1.3131 before easing to hold a 1.3080 – 1.3120 range for the balance of the session. In a week absent of economic data, the CAD has strengthened on the back of positive market sentiment and Trump headlines, virtually erasing last week's post Bank of Canada declines that saw USD jump from 1.3050 up to 1.3388. U.S. 4th quarter GDP preliminary readings missed estimates this morning but there has been very little reaction in the markets. Equity indexes remain flat while U.S. 10 year yields continue to hold near 2.5%. USDCAD has been steady in a 1.31 – 1.3120 range despite a 1% decline in oil prices. (Oddly enough, the CAD weakened yesterday despite a 2.5% gain in oil prices.) Next week, Chinese markets will be sidelined for the lunar New Year while markets will look to several central bank policy announcements out of Japan, U.S., and the U.K.. Currently, the TSX and the DJIA are down roughly 0.10%. EURCAD is up 0.35% trading between 1.3977 and 1.4058. GBPCAD is unchanged trading between 1.6415 and 1.6509. JPYCAD is down 0.35% trading between 0.01138 and 0.01144. Gold is down 0.41% trading between $1,180 and $1,189USD/oz., silver is down 0.47% trading between $16.65 and $16.83USD/oz., while oil is down 1.13% trading between $53.03 and $54.05.

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