Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 25, 2017

USDCAD spot rate: 1.2490 - 1.2495 (as at 7:38am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. durable goods orders: -6.8% (exp -6.0% / prev 6.4%)

- U.S. core durable goods orders: 0.5% (exp 0.4% / prev 0.1%)

- U.S. Fed Yellen speech

Key Event Calendar:

Yesterday, the CAD was the top performer despite a 2%+ fall in oil prices with USDCAD declining from 1.2561 down to 1.2507 – the lowest rate since Aug. 1 and within 1 cent of the 25 month low seen in late July (1.2418). Overnight, there was very little action with markets awaiting news from the Jackson Hole gathering of world central bankers. USDCAD remained steady in a 1.2501 – 1.2521 range before spiking up to 1.2540 ahead of prepared remarks from U.S. Fed chairman Yellen. The market was unimpressed as her comments did not cover monetary policy or interest rates and the USD sold off heavily across the board. Within minutes, USDCAD had fallen to 1.2482 near the Aug 1^st low of 1.2451. Corrective bounces have since been limited to 1.2500. U.S. 10 year yields are down to 2.17% - near the lowest level since Nov. 2016 while the USD index (DXY) continues to hold near a 26 month low. Currently, the TSX and the DJIA are up 0.10% and 0.40% respectively. EURCAD is up 0.40% trading between 1.4720 and 1.4838. GBPCAD is up 0.40% trading between 1.6004 and 1.6094 – still near 8 month lows. JPYCAD is unchanged trading between 0.01139 and 0.01143. Gold is unchanged trading between $1,275 and $1,291USD/oz., silver is unchanged trading between $16.71 and $17.18USD/oz., while oil is up 0.82% trading between $47.49 and $47.86.

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