Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 29, 2017

USDCAD spot rate: 1.2500 - 1.2505 (as at 7:58am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada raw material product price m/m: -0.6% (exp -2.5% / prev -3.6%)

- Canada industrial product price m/m: -1.5% (exp -0.2% / prev -1.1%)

- U.S. consumer confidence: 122.9 (exp 120.3 / prev 120.0)

Key Event Calendar:

Date Canada U.S.A.

Aug 30

Aug 31

Sept 1

Current account Q2

GDP (June) / Q2 annualized

RBC manufacturing PMI

ADP employment change, GDP Q2

PCE price index, personal income/spending,

Chicago PMI, pending home sales

Non-farm payrolls, unemployment rate, avg. hourly

earnings, ISM manufacturing, consumer sentiment

Yesterday, the CAD was the worst performing currency during the North American trading session.

USDCAD initially moved lower from 1.2497 down to 1.2442, just shy of the late July / 26 month low of

1.2413 before climbing back towards 1.2475 where the pairing remained for much of the session. Reports

of North Korea firing 3 missiles over Northern Japan in the afternoon saw the JPY climb ½% across the

board on risk aversion flows. USDCAD jumped briefly to 1.2530/35 on the reports. While global equity

indexes remained under pressure overnight, USDCAD dropped to test yesterday's lows near 1.2442 on

broad-based USD weakness. The EURUSD rate climbed above the 1.20 mark for the first time since

January of 2015 while gold prices surged to $1,326 - the highest in 11 months. North American markets

have pared earlier losses while oil prices continue to slide this morning. USDCAD climbed back to 1.2507

before easing to hold a 1.2490 – 1.2505 range for the past 90 minutes. U.S. 10 year yields are down to

2.09% - 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 down 0.50% and 0.08% respectively. EURCAD is up

0.50% trading between 1.4959 and 1.5046. GBPCAD is up 0.50% trading between 1.6125 and 1.6199.

JPYCAD is up 1.2% trading between 0.01146 and 0.01151. Gold is up 0.68% trading between $1,313 and

$1,326USD/oz., silver is up 0.57% trading between $17.40 and $17.66USD/oz., while oil is down 0.40%

trading between $46.03 and $46.95.

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

CNBC, Forexlive, CME Group


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