Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 22, 2017

VBCE Daily Foreign Exchange Update for Wednesday, Nov. 22, 2017

USDCAD spot rate: 1.2715 - 1.2720 (as at 8:00am PST)

Ranges:

Asia:

1.2751

to

1.2776

Europe:

1.2738

to

1.2777

North America:

1.2715

to

1.2760

Technical Support / Resistance:

S2

S1

R1

R2

1.2650

1.2700

1.2810

1.2875

Key Economic Data Releases:

- U.S. durable goods orders: -1.2% (exp 0.3% / prev 2.0%)

- U.S. FOMC minutes 11am

Key Event Calendar:

Date

Canada

U.S.A.

Nov. 23

Nov. 24

Retail sales

Thanksgiving Holiday

Manufacturing PMI, services PMI

Federal Reserve Chair Janet Yellen warned that there's been "some hint" that inflation expectations may be drifting down and said that removing policy accommodation too quickly could risk prolonging the U.S. central bank's challenge in meeting price goals. The USD dropped after the comments made at an event at New York University. The Fed's stance on inflation prospects may become clearer at 11am when minutes for the Oct.31-Nov.1 meeting are published. The GBP/USD swung gains and losses before rising even as growth forecasts for the U.K. were cut in the latest budget, while Britain's exporter heavy FTSE 100 Index stayed higher. The EUR/USD gained as efforts continued to end Germany's political impasse. Chancellor Angela Merkel's party is betting on a revived alliance with the Social Democrats to dodge the risk of new elections after coalition talks with the 2 other parties broke down, according to people familiar with the discussions in Berlin. Currently, the TSX is up 0.21% while the DOW is down 0.11%. EURCAD is up 0.11% trading between 1.4950 and 1.5029. GBPCAD is down 0.08% trading between 1.6840 and 1.6936. JPYCAD is up 0.29 trading between 0.01136 and 0.01140. Gold is up 0.53% trading between $1,279 and $1,290USD/oz., silver is down 0.74% trading between $16.93 and $17.14USD/oz., while oil is down 1.26% trading between $57.18 and $58.04.

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

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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.