Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver February 24, 2017



USDCAD spot rate: 1.3090 - 1.3095 (as of 7:31am PST)

RangesAsia1.3092 to 1.3119
Europe1.3075 to 1.3109
North America1.3053 to 1.3119

Technical Support / Resistance

S2S1R1R2
1.30001.30601.31251.3200


Key Economic Data Releases
- Canada core CPI m/m: 0.5% (exp -0.1% / prev -0.3%) y/y: 1.7% (prev 1.6%)
- Canadian CPI m/m: 0.9% (exp 0.3% / prev -0.2%) y/y: 2.1% (exp 1.6% / prev 1.5%)
- U.S. consumer sentiment index: 96.3 (exp 96.0 / prev 95.7)
- U.S. new home sales: 555k (exp 570k / prev 535k) % change: 3.7% (exp 6.3% / prev -7.0%)

Key Event Calendar

Date CanadaU.S.A
Feb 27 Durable goods, pending home sales
Feb 28Raw material price indexGDP(Q4), consumer confidence, Trump speech
Mar 1RBC mfg, Bank of Canada rateISM Manufacturing, crude oil inventories
Mar 2GDP (Dec), GDP (Q4)
Mar 3 ISM non-manufacturing


Yesterday, USDCAD initially fell from 1.3170 down to 1.3080 before bouncing back towards 1.3118 – effectively erasing Wednesday's move to a one month high of 1.32 after Canada's dismal retail sales data. Overnight, the pairing dipped to 1.3075 before rising to 1.3119 in early North American trade. Canada's headline CPI inflation data was much firmer than expected sending USDCAD quickly down to 1.3053. The move quickly reversed back to 1.3100 on broad-based USD strength and risk aversion flows. Global equity markets are noticeably lower today while oil prices have erased yesterday's move to $55. Also, the Bank of Canada switched to a new set of core inflation measurements which strip out highly volatile energy prices. These inflation readings are well below the headline readings: CPI common y/y = 1.3% vs 1.4% prev, CPI median y/y = 1.9% vs 1.9% prev, CPI Trim y/y = 1.7% vs 1.6% prev. Given the risk aversion flows associated with EU political risk, the JPY is the best performing currency while the USD and CAD are a close 2nd. Currently, the TSX and the DJIA are down 0.81% and 0.32% respectively. EURCAD is down 0.25% trading between 1.3836 and 1.3918. GBPCAD is down 0.50% trading between 1.6367 and 1.6471. JPYCAD is up 0.30% trading between 0.01161 and 0.01168. Gold is up 0.50% trading between $1,248 and $1,260USD/oz., silver is up 1.18% trading between $18.17 and $18.39USD/oz., while oil is down 0.60% trading between $53.78 and $54.48.

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