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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 12, 2018

USDCAD spot rate: 1.2510 - 1.2515 (as at 8:09am PST)

Ranges:

Asia:

1.2507

to

1.2532

Europe:

1.2507

to

1.2555

North America:

1.2492

to

1.2557

Technical Support / Resistance:

S2

S1

R1

R2

1.2430

1.2490

1.2550

1.2590

Key Economic Data Releases:

- U.S. retail sales: 0.4% (exp 0.4% / prev 0.9%) core: 0.4% (exp 0.4% / prev 1.3%)

- U.S. CPI m/m: 0.1% (exp 0.2% / prev 0.4%) y/y: 2.1% (exp 2.1% / prev 2.2%)

- U.S. core CPI m/m: 0.3% (exp 0.2% / prev 0.1%) y/y: 1.8% (exp 1.7% / prev 1.7%)

Event Calendar:

Date

Canada

U.S.A.

Jan.15

Jan. 16

Jan. 17

Jan.18

Jan.19

Bank of Canada interest rate

Manufacturing sales

Martin Luther King Day

NY Empire state manufacturing

Industrial production

Building permits, housing starts

Consumer sentiment index

Yesterday, the weekly uptrend in USDCAD continued with a move from 1.2530 up to 1.2590. A 2nd attempt stalled at 1.2585 and the pairing declined to 1.2515 in late trade. U.S. inflation data missed estimates leading to broad USD weakness in yesterday's North American session. U.S. retail sales data and CPI inflation data out this morning were close to expectations. USDCAD quickly climbed from session lows near 1.2510 up to 1.2557 before falling right back down to the 1.2500 level. The pairing has since fallen to 1.2492 followed by a bounce to 1.2530. The EUR is the best performing currency for the 2nd straight day on the back of yesterday's hawkish central bank meeting minutes and today's news about a coalition deal for Germany. Currently, the TSX and the DJIA are up 0.10% and 0.81% respectively. EURCAD is up 1% trading between 1.5073 and 1.5221- near 1 month highs. GBPCAD is up 1% trading between 1.6952 and 1.7180 – near 1 month highs. JPYCAD is down 0.20% trading between 0.01121 and 0.01127. Gold is up 0.66% trading between $1,321 and $1,333USD/oz., silver is up 1% trading between $16.99 and $17.18USD/oz., while oil is down 0.45% trading between $63.07 and $63.82.

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

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