Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 15, 2018
USDCAD spot rate: 1.2406 - 1.2411 (as at 8:01am PST)
| Ranges: | Asia: | 1.2436 | to | 1.2473 |
| Europe: | 1.2403 | to | 1.2443 | |
| North America: | 1.2404 | to | 1.2442 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.2330 | 1.2379 | 1.2530 | 1.2590 |
Key Economic Data Releases:
- U.S. Martin Lurther King Day
Event Calendar:
| Date | Canada | U.S.A. |
| Jan. 16 Jan. 17 Jan.18 Jan.19 | Bank of Canada interest rate Manufacturing sales | NY Empire state manufacturing Industrial production Building permits, housing starts Consumer sentiment index |
The Bank of Canada is already well into the process of raising interest rates to more normal levels and another increase is expected on Wednesday, after the economy's stellar performance last year. The big questions are how quickly do they continue moving up from here, how closely will they follow U.S. increases and where will rates settle. Markets are pricing in at least three more increases this year, which would bring the benchmark rate to 1.75 percent. Currently, the TSX is up 0.26% and the DOW is up 0.89%. EURCAD is up 0.35% trading between 1.5180 and 1.5277. GBPCAD is up 0.18% trading between 1.7075 and 1.7164. JPYCAD is up 0.71% trading between 0.01120 and 0.01124. Gold is up 0.26% trading between $1,336 and $1,344USD/oz., silver is up 0.80% trading between $17.21 and $17.42USD/oz., while oil is up 0.35% trading between $64.10 and $64.77.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group
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