Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 13, 2017
USDCAD spot rate: 1.2478 - 1.2483 (as at 7:45am PST)
| Ranges: | Asia: | 1.2460 | to | 1.2484 |
| Europe: | 1.2452 | to | 1.2480 | |
| North America: | 1.2450 | to | 1.2510 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.2420 | 1.2450 | 1.2510 | 1.2550 |
Key Economic Data Releases:
- U.S. CPI m/m: 0.5% (exp 0.6% / prev 0.4%) y/y: 2.2% (exp 2.3% / prev 1.9%)
- U.S. core CPI m/m: 0.1% (exp 0.2% / prev 0.2%) y/y: 1.7% (exp 1.8% / 1.7%)
- U.S. retail sales: 1.6% (exp 1.7% / prev -0.1%) core: 1.0% (exp 0.3% / prev 0.5%)
- U.S. consumer sentiment index: 101.1 (exp 95.0 / prev 95.1)
Key Event Calendar:
| Date | Canada | U.S.A. |
| Oct 16 Oct 17 Oct 18 Oct 19 Oct 20 | Foreign securities purchases Manufacturing sales CPI, retail sales | NY Empire state manufacturing index Industrial production Building permits, housing starts Philadelphia Fed manufacturing index Existing home sales |
Yesterday, USDCAD initially dipped from 1.2460 down to 1.2430 (a 1 week low) in Asian trade before climbing to 1.2490 in North American trade. The pairing would then dip to 1.2450 and hold near 1.2475 for the balance of the session. Overnight, the USD broadly gained ahead of the 5:30am retail sales and CPI inflation data taking USDCAD up to 1.2510. Both data sets missed estimates sending the USD lower across the board. USDCAD dropped to session lows @ 1.2450 but has since recovered up to 1.2485 making the CAD the worst performing currency on the day. This comes despite an earlier 2% climb in oil prices as commodity prices along with the AUD and NZD outperform. U.S. 10 year yields are under pressure again falling to 2.28% after testing 2.40% earlier this week. After the dovish comments on inflation in Wednesday's Fed minutes along with missed inflation expectations today, the market appears to be doubtful that the Fed will be able to hike interest rates 3 times next year. Currently, the TSX and the DJIA are up 0.50% and 0.23% respectively. EURCAD is up 0.20% trading between 1.4720 and 1.4813. GBPCAD is up 0.40% trading between 1.6513 and 1.6628. JPYCAD is up 0.35% trading between 0.01110 and 0.01116. Gold is up 0.40% trading between $1,290 and $1,303USD/oz., silver is up 0.37% trading between $17.16 and $17.35USD/oz., while oil is up 1% trading between $50.72 and $51.72.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group
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