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

USDCAD spot rate: 1.2757 - 1.2762 (as at 7:56am PST)

Ranges:

Asia:

1.2732

to

1.2752

Europe:

1.2710

to

1.2748

North America:

1.2695

to

1.2798

Technical Support / Resistance:

S2

S1

R1

R2

1.2650

1.2700

1.2770

1.2840

Key Economic Data Releases:

- Canada GDP (Oct): 0% (exp 0.2% / prev 0.2%) y/y: 3.5% (exp 3.5%)

- U.S. durable goods orders: 1.3% (exp 2.0% / prev -0.4%)

- U.S. core durable goods orders: -0.1% (exp 0.5% / 1.3%)

- U.S. new home sales: 733k (exp 654k / prev 624k) 17.5% (exp -4.7% / prev -1.7%)

- U.S. personal income: 0.3% (exp 0.4% / prev 0.4%)

- U.S. personal spending: 0.6% (exp 0.5% / prev 0.2%)

- U.S. consumer sentiment index: 95.9 (exp 97.1% / prev 96.8%)

Event Calendar:

Date

Canada

U.S.A.

Dec. 25

Dec. 26

Dec. 27

Dec. 28

Dec. 29

Christmas Day

Boxing Day

Consumer confidence

Pending home sales

Chicago PMI, crude oil inventories

Yesterday, USDCAD dropped from 1.2840 down to 1.2700 before climbing back to 1.2745. U.S. GDP (Q3) missed estimates while Canadian retail sales and inflation data came in stronger than expected. Overnight, USDCAD eased lower to 1.2695 / 1.2700 before surging higher this morning after Canadian October GDP came in flat. The market was expecting a 0.2% increase while there was risk for an even stronger number given the recent string of better than expected Canadian data. USDCAD climbed to 1.2798 but has since pulled back to 1.2750. Currently, the TSX and the DJIA are down 0.04% and 0.12% respectively. EURCAD is unchanged trading between 1.5040 and 1.5169. GBPCAD is up 0.20% trading between 1.6975 and 1.7127. JPYCAD is up 0.20% trading between 0.01120 and 0.01127. Gold is up 0.46% trading between $1,265 and $1,273USD/oz., silver is up 1% trading between $16.11 and $16.36USD/oz., while oil is down 0.58% trading between $57.91 and $58.31.

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

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