Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 18, 2017

USDCAD spot rate: 1.2230 - 1.2230 (as at 8:28am PST)

Ranges:

Asia:

1.2171

to

1.2198

Europe:

1.2187

to

1.2216

North America:

1.2191

to

1.2245

Technical Support / Resistance:

S2

S1

R1

R2

1.2080

1.2143

1.2250

1.2295

Key Economic Data Releases:

- No major data releases

Key Event Calendar:

Date

Canada

U.S.A.

Sept 19

Sept 20

Sept 21

Sept 22

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

While it is fairly quiet on the economic data front today, it is shaping up to be a big week for markets. The main event is the Federal Reserve decision on Wednesday, where the central bank is expected to keep on track for a rate hike in December, and announce it will start unwinding its $4.5 trillion balance sheet. It seems markets are taking the Fed's quantitative tightening in stride. It will be like Fed Chair Janet Yellen has said, like watching paint dry. U.S. Secretary of State Rex Tillerson said that the country is seeking a peaceful solution to the nuclear standoff with North Korea, while making it clear that the military option remains on the table should diplomatic efforts fail. President Donald Trump was less confrontational in his weekend tweet on the subject, citing the effects of sanctions while mocking the regime in Pyongyang. He is expected to embark on a whirlwind series of meetings at the United Nations General Assembly this week to discuss both North Korea and Iran. Policy makers at the People's Bank of China are drafting a package of reforms that would give foreign investors greater access to the financial services industry, according to people familiar with the matter. The yuan 6.1% advance this year has given the country greater freedom to loosen capital controls, as deflation risks are now largely off the table. Currently, the TSX is up 0.31% while the DOW is up 0.33%. EURCAD is up 0.63% trading between 1.4510 and 1.4608. GBPCAD is down 0.09 trading between 1.6497 and 1.6580. JPYCAD is down 0.45% trading between 0.01092 and 0.01097. Gold is down 0.81% trading between $1,308 and $1,319USD/oz., silver is down 1.60% trading between $17.27 and $17.61USD/oz., while oil is down 0.36% trading between $49.58 and $50.33.

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

083e3d7a6b

Follow us




Follow us on Twitter @vbcefx


Disclaimer


The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.