Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 25, 2017

Bank of Canada holds interest rates at 1%

USDCAD spot rate: 1.2778 - 1.2783 (as at 8:16am PST)

Ranges:

Asia:

1.2666

to

1.2689

Europe:

1.2649

to

1.2724

North America:

1.2632

to

1.2788

Technical Support / Resistance:

S2

S1

R1

R2

1.2575

1.2620

1.2800

1.2850

Key Economic Data Releases:

- Bank of Canada Interest rate:

http://www.bankofcanada.ca/2017/10/fad-press-release-2017-10-25/

- U.S. durable goods orders: 2.2% (exp 1.0% / prev 2.0%

- U.S. new home sales: 0.667M (exp 0.555M / prev 0.561M)

Key Event Calendar:

Date

Canada

U.S.A.

Oct 26

Oct 27

Pending home sales

GDP (Q3), consumer sentiment index

The Bank of Canada kept interest rates on hold at 1%, warning it would remain cautious when considering future hikes as it gauges the economic impact of gains in the CAD and higher rates while flagging the risk of growing protectionism in the U.S. The central bank citied a laundry list of concerns and questions including a stronger CAD that is weighing heavy on inflation and exports, the growing risks associated with renegotiation of NAFTA and evidence of continued slack in the labour market despite recent strong economic growth. Today's statement is clearly a move to a more dovish stance by Bank of Canada, and we find strong support to keep forecasts for a next move higher in the rate to come only by the spring of 2018. Currently, the TSX is down 0.14% and the DOW is down 0.30%. EURCAD is up 1.29% trading between 1.4892 and 1.5110. GBPCAD is up 1.75% trading between 1.6625 and 1.6941. JPYCAD is up 1.13% trading between 0.01110 and 0.01124. Gold is up 0.03% trading between $1,271 and $1,279USD/oz., silver is up 0.15% trading between $16.86 and $17.03USD/oz., while oil is down 0.45% trading between $52.08 and $52.46.

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


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