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

USDCAD spot rate: 1.2561 - 1.2566 (as at 8:17am PST)

Ranges:

Asia:

1.2564

to

1.2599

Europe:

1.2563

to

1.2597

North America:

1.2554

to

1.2580

Technical Support / Resistance:

S2

S1

R1

R2

1.2475

1.2536

1.2611

1.2680

Key Economic Data Releases:

- U.S. mfg PMI: 52.5 (exp 53.3 / prev 53.3)

- U.S. services PMI: 56.9 (exp 54.9 / prev 54.7)

- U.S. new home sales: 0.571M (exp 0.612M / prev 0.630M)

- U.S. oil inventories: -3.327M (exp -3.450M / prev -8.945M)

Key Event Calendar:

Date

Canada

U.S.A.

Aug 24

Aug 25

Jackson Hole Symposium, existing home sales

Jackson Hole Symposium, durable goods orders

President Donald Trump warned Democratic lawmakers that "one way or the other" the border wall with Mexico will be built, saying "If we have to close down our government, we're building that wall." In a sign that the market may be learning to discount Trump's podium declarations, the USD weakened slightly and Treasury yields remained broadly unchanged following the remarks. Meanwhile in the U.K., in an effort to speed up negotiations on the terms of the country's exit from the EU, British Prime Minister Theresa May has conceded that EU laws will continue to influence the U.K. after Brexit. The weakening of what was once a "red line", saw the pound drop to its lowest level against the USD in 2 months and the lowest level against the EUR since October's sterling flash crash. An index of economic conditions in Britain has fallen to the lowest reading of the year as businesses are becoming increasingly worried about the economy. Currently, the TSX is up 0.53% and the DOW is down 0.23%. EURCAD is up 0.33% trading between 1.4775 and 1.4866. GBPCAD is down 0.28% trading between 1.6060 and 1.6154. JPYCAD is down 0.44% trading between 0.01145 and 0.01154. Gold is up 0.46% trading between $1,282 and $1,291USD/oz., silver is up 0.42% trading between $16.91 and $17.08USD/oz., while oil is up 0.39% trading between $47.56 and $48.07.

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

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