Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 16, 2017

USDCAD spot rate: 1.2705 - 1.2710 (as at 8:20am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada Net foreign securities transactions: $-0.92B (exp $23.45B / prev $29.44B)

- U.S. Building permits: -1.223M (exp 1.250M / prev 1.254M)

- U.S. housing starts: -4.8% (exp 0.5% / prev 8.3%

- U.S. FOMC min: 11am

Key Event Calendar:

Investors looking for clues as to the timing of the start of the unwind of the Federal Reserve's $4.5 trillion balance sheet will be closely reading the minutes of the July FOMC meeting when they are published at 11am. The minutes should also provide a guide as to how many policy makers agree with the Federal Reserve Bank of New York President William Dudley that another rate rise may be needed before the end of the year. Unemployment in the U.K fell to 4.4% in the second quarter, the lowest since 1975, with basic wages rising 2.1%, more than economists had forecast. While the Bank of England expects pay growth to remain below the rate of inflation for months to come, the outlook is for price to rise to peak later this year. The British government has also published another Brexit position paper, this time on the Irish border, saying it wants no physical infrastructure on the 310 mile crossing. Currently, the TSX is up 0.44% while the DOW is up 0.38%. EURCAD is down 0.67% trading between 1.4860 and 1.4986. GBPCAD is down 0.39% trading between 1.6325 and 1.6433. JPYCAD is down 0.54% trading between 0.01146 and 0.01153. Gold is up 0.12% trading between $1,267 and $1,273USD/oz., silver is up 1.54% trading between $16.62 and $16.91USD/oz., while oil is down 0.71% trading between $47.35 and $47.96.

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