Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 23, 2017

USDCAD spot rate: 1.3263 - 1.3268 (as at 7:33am PST)

Ranges:

Asia:

1.3210

to

1.3234

Europe:

1.3210

to

1.3241

North America:

1.3217

to

1.3308

Technical Support / Resistance:

S2

S1

R1

R2

1.3165

1.3210

1.3308

1.3349

Key Economic Data Releases:

- Canada CPI m/m: 0.1% (exp 0.2% / prev 0.4%)

- Canada CPI core: common: 1.3% prev 1.3%, Trim: 1.2% prev 1.3%, Median: 1.5% prev 1.6%

- U.S. manufacturing PMI: 52.1 (exp 53.0 / prev 52.7)

- U.S. services PMI: 53.0 (exp 53.7 / prev 53.6)

- U.S. new home sales: 610k (exp 597k / perv 593k) % change: 2.9% (exp 5.4% / prev -7.9%)

Key Event Calendar:

Date

Canada

U.S.A.

June 26

June 27

June 28

June 29

June 30

GDP, Raw materials / industrial product price index

Durable goods orders

Consumer confidence

Pending home sales, goods trade balance

GDP Q1, GDP price index

Personal income/spending, Chicago PMI, Michigan consumer sentiment index

Yesterday, USDCAD dropped from 1.3338 (weekly high Wednesday was 1.3344/49) down to 1.3208 (weekly low Monday was 1.3191/95) before settling near 1.3230/35 in late trade. Bounces were contained by resistance at 1.3250. The CAD was the best preforming currency driven by strong retail sales data and higher oil prices (+~2%). Overnight, the pairing dipped to 1.3210 but spiked to 1.3285 after the 5:30am release of the Canadian inflation data which missed estimates. USDCAD briefly touched 1.3303/08 before falling back towards 1.3260 on broad-based USD weakness and higher oil prices. Currently, the TSX is up 0.30% while the DJIA is down 0.12%. EURCAD is up 0.75% trading between 1.4741 and 1.4880 – still near 2 month lows. GBPCAD is up 0.75% trading between 1.6767 and 1.6926 – near 2 month lows. JPYCAD is up 0.50% trading between 0.01187 and 0.01196 – near 3 month lows. Gold is up 0.60% trading between $1,250 and $1,259USD/oz., silver is up 1% trading between $16.52 and $16.79USD/oz., while oil is up 0.70% trading between $42.56 and $43.14.

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

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