Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 15, 2017

USDCAD spot rate: 1.2167 - 1.2172 (as at 8:03am PST)

Ranges:

Asia:

1.2160

to

1.2187

Europe:

1.2124

to

1.2180

North America:

1.2119

to

1.2196

Technical Support / Resistance:

S2

S1

R1

R2

1.2080

1.2119

1.2196

1.2240

Key Economic Data Releases:

- U.S. retail sales: -0.2% (exp 0.1% / prev 0.3% *revised lower from 0.6%)

- U.S. core retail sales: 0.2% (exp 0.5% / prev 0.4%)

- U.S. industrial production: -0.9% (exp 0.1% / prev 0.4%)

- U.S. NY Empire state manufacturing index: 24.4 (exp 18.0 / prev 25.2)

- U.S. consumer sentiment index: 95.3 (exp 95.0 / prev 96.8)

Key Event Calendar:

Date

Canada

U.S.A.

Sept 18

Sept 19

Sept 20

Sept 21

Sept 22

Net foreign securities transactions

Manufacturing sales

Wholesale sales

CPI, retail sales

Building permits, housing starts

Existing home sales, Fed interest rate decision

Philly Fed manufacturing index

Manufacturing PMI, services PMI

Yesterday, the CAD and the USD were the worst performing currencies although the CAD did recover its morning losses vs. the USD. The pairing began the day near the lows at 1.2160 and climbed to a 1 week high of 1.2239 after the release of the U.S. CPI data. Headline data was better than expected initially sending the USD broadly higher. However details within the report indicated that wage inflation actually declined. It was a steady decline for the USD for the balance of the North American session taking USDCAD back down to 1.2160. USD weakness continued overnight taking USDCAD down to 1.2124 before a rebound to 1.2155 ahead of the U.S. retail sales data. Results were poor sending USDCAD down to 1.2119, a 4 day low. The move was short-lived with USDCAD climbing to session highs at 1.2196 despite most other major currencies holding their gains vs. the USD. The pairing has since eased lower towards 1.2170. The GBP is the best performing currency adding nearly 3 cents to yesterday's 3 cent gain on BOE rate hike expectations. The JPY is the weakest falling to the lowest level since December of 2015. Currently, the TSX is down 0.10% while the DJIA is up 0.24%. EURCAD is up 0.80% trading between 1.4480 and 1.4597. GBPCAD is up 1.7% trading between 1.6292 and 1.6572. JPYCAD is down 0.80% trading between 0.01091 and 0.01106. Gold is down 0.27% trading between $1,320 and $1,334USD/oz., silver is down 0.58% trading between $17.58 and $17.85USD/oz., while oil is unchanged trading between $49.41 and $50.12.

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

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