Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 14, 2017

USDCAD spot rate: 1.2680 - 1.2685 (as at 7:50am PST)

Ranges:

Asia:

1.2725

to

1.2737

Europe:

1.2722

to

1.2748

North America:

1.2680

to

1.2736

Technical Support / Resistance:

S2

S1

R1

R2

1.2450

1.2650

1.2770

1.2860

Key Economic Data Releases:

- U.S. CPI m/m: 0.0% (exp 0.1% / prev -0.1%) y/y: 1.6% (exp 1.7% / prev 1.9%)

- U.S. Core CPI m/m: 0.1% (exp 0.2% / prev 0.1%) y/y: 1.7% (exp 1.7% / prev 1.7%)

- U.S. retail sales: -0.2% (exp 0.1% / prev -0.1%)

- U.S. Core retail sales: -0.2% (exp 0.2% / prev -0.3%)

- U.S. industrial production: 0.4% (exp 0.3% / prev 0.1%)

- U.S. consumer sentiment index: 93.1 (exp 95.0 / prev 95.1)

Key Event Calendar:

Date

Canada

U.S.A.

July 17

July 18

July 19

July 20

July 21

Foreign securities purchases

Manufacturing sales

CPI, retail sales

NY Empire state manufacturing

Import / export price index

Building permits, housing starts, oil inventories

Philly Fed manufacturing index

Yesterday, USDCAD climbed from 1.2721 up to 1.2773 before easing back to hold near 1.2720/35 for the balance of the session. U.S. retail sales and inflation data were weaker than expected sending the USD broadly lower this morning. USDCAD initially dropped from 1.2725 down to 1.2692 before climbing back to 1.2725. The pairing has since dropped back and is currently testing Wednesday's 1 year low near 1.2680. Technically, if the 1.2650 level fails to hold, there is little support ahead of the May 2016 low of 1.2450. Currently, the TSX and the DJIA are up 0.15% and 0.08% respectively. EURCAD is unchanged trading between 1.4487 and 1.4590 – near 3 month lows. GBPCAD is up 0.50% trading between 1.6467 and 1.6613 – near 3 month lows. JPYCAD is unchanged trading between 0.01122 and 0.01132 – near 6 month lows. Gold is up 0.86% trading between $1,215 and $1,233USD/oz., silver is up 1.65% trading between $15.62 and $16.08USD/oz., while oil is up 0.72% trading between $45.83 and $46.71.

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

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