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

USDCAD spot rate: 1.2485 - 1.2490 (as at 8:23am PST)

Ranges:

Asia:

1.2485

to

1.2522

Europe:

1.2511

to

1.2535

North America:

1.2479

to

1.2510

Technical Support / Resistance:

S2

S1

R1

R2

1.2400

1.2476

1.2579

1.2640

Key Economic Data Releases:

- Canada Manufacturing sales: 1.6% (exp -0.1% / prev -2.6%

- U.S. building permits: 1.215M (exp 1.250M / prev 1.272M)

- U.S. housing starts: 1.127M (exp 1.175M / prev 1.183M)

Key Event Calendar:

Date

Canada

U.S.A.

Oct 19

Oct 20

CPI, retail sales

Philadelphia Fed manufacturing index

Existing home sales

The greenback's advance over the past 3 days helped send volatility in major currencies to a 3-month low. Fed funds futures indicate a roughly 80% chance that U.S. policy makers will raise rates at their December meeting, up from 72% Friday. President Donald Trump's choice for the next Fed chair will be unveiled before he leaves Nov. 3 for an 11-day trip to Asia and Hawaii, a person familiar with the process said Tuesday. John Taylor was said to have impressed Trump in an interview, buoying gains in the greenback earlier this week given the assumption by many that he would favour tighter policy. European Union officials are expressing frustration with the U.K. on Brexit negotiations, saying lack of consensus within the Britain government makes it hard to know what the latter wants. While ministers in Theresa May's government have played down internal divisions, the European side see little room for progress at the leaders summit starting tomorrow. Currently, the TSX is up 0.16% and the DOW is up 0.60%. EURCAD is down 0.07% trading between 1.4690 and 1.4735. GBPCAD is down 0.27% trading between 1.6435 and 1.6535. JPYCAD is down 0.77% trading between 0.01104 and 0.01114. Gold is down 0.39% trading between $1,276 and $1,288USD/oz., silver is down 0.34% trading between $16.90 and $17.09USD/oz., while oil is up 0.17% trading between $51.87 and $52.30.

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

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