Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver February 22, 2017

USDCAD spot rate: 1.3190 - 1.3195 (as at 8:10am PST)

Ranges:

Asia:

1.3109

to

1.3165

Europe:

1.3165

to

1.3210

North America:

1.3167

to

1.3195

Technical Support / Resistance:

S2

S1

R1

R2

1.3060

1.3100

1.3230

1.3280

Key Economic Data Releases:

- Canada retail sales: -0.5% (exp. 0.1% / prev. 0.3%)

- U.S. home sales: 5.69M (exp. 5.54M / prev. 5.51M)

- U.S. FOMC meeting minutes: 11AM

Key Event Calendar:

Date

Canada

U.S.A.

Feb. 23

Feb. 24

Consumer price index

House price index

Consumer sentiment index, new home sales

The Federal Reserve will publish the minutes of its Jan.31-Feb.1 meeting at 11am today. Investors will read it closely for signs of consensus among policy makers on the timing of the next interest rate increase. The dollar is trading in a narrow range ahead of the release, while market-implied probabilities show 43% chance of a rate hike in March. President Donald Trump's administration outlined a sweeping crackdown on undocumented immigrants yesterday, saying they would hire 15,000 more border patrol and immigration agents, and deport more people. One study suggests that ejecting these immigrants would put a strain on an already tight US jobs market, and cost the economy as much as $5 trillion over 10 years. The British economy grew 0.7% in the final 3 months of 2016, a little over the previous 0.6% estimate. Trade and consumer spending provided the lion's share of the growth, while business investment fell. The broad consensus among economists is that the prospects for the economy will be damaged by Brexit for a long time to come, with trade and openness the biggest issues. Currently, the TSX is down 0.23% and the DOW is up 0.07%. EURCAD is up 0.43% trading between 1.3804 and 1.3903. GBPCAD is up 0.32% trading between 1.6360 and 1.6447. JPYCAD is up 0.63% trading between 0.01155 and 0.01169. Gold is down 0.17% trading between $1,231 and $1,240USD/oz., silver is up 0.13% trading between $17.93 and $18.05USD/oz., while oil is down 1.25% trading between $53.50 and $54.58.

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

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