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

USDCAD spot rate: 1.2511 - 1.2515 (as at 8:07am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada Wholesale Sales: 0.9% (exp 0.5% / prev 0.8%)

- U.S. Manufacturing PMI: 53.2 (prev 52.0 / prev 52.0)

- U.S. Services PMI: 54.2 (exp 54.0 / prev 54.2)

- U.S Existing Home Sales: 5.52M (exp 5.58M / prev 5.62M)

Key Event Calendar:

U.S. stocks fluctuated and the USD weakened to start a week packed with corporate results and a Federal Reserve rate decision, with recent surveys showing that a no change policy is expected. Speculator and hedge-fund net short positioning on the dollar have risen to the highest number of contracts since 2013, according to the latest CFTC report. The euro headed for its first decline in 3 days as data showed the region's economy cooling. The S&P 500 Index fell from near a record as investors kept an eye on Washington, where Jared Kushner prepared to testify to a Senate committee as President Donald Trump's policy agenda remained largely stalled. At a meeting in Russia today, OPEC and its allies indicated they weren't planning any major changes to their deal to cut production. That means there will be no moves to impose output caps on Libya and Nigeria, countries that had been excused from the deal forged November 2016. Currently, the TSX is down 0.38% and the DOW is down 0.26%. EURCAD is down 0.27% trading between 1.4532 and 1.4647. GBPCAD is down 0.01% trading between 1.6273 and 1.6365. JPYCAD is up 0.02% trading between 0.01126 and 0.01133. Gold is up 0.07% trading between $1,252 and $1,258USD/oz., silver is up 0.18% trading between $16.43 and $16.58USD/oz., while oil is up 1.81% trading between $45.43 and $46.43.

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