Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 16, 2018

USDCAD spot rate: 1.2420 - 1.2425 (as at 8:01am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- NY Empire state Manufacturing 17.7 (18.0 exp.) 19.6 previous

Event Calendar:

The U.S. stocks jumped to records with the Dow Jones Industrial Average crossing 26,000 and S&P 500 Index surpassing 2,800, both for the first time, as Citigroup Inc. discussed possible significant investor payouts from the bank's windfall stemming from a major tax cut. All major U.S. equity gauges opened higher. The dollar strengthened after its lowest close in three years, rising alongside Treasuries as Congress tries to avert a government shutdown Friday. Meanwhile in Canada all eyes are on tomorrows Bank of Canada interest rate announcement. The euro came under pressure as prospects for a German coalition government were dealt an early blow, and on reports the European Central Bank will maintain a bond-buying pledge when it meets next week. Currently, the TSX is down 0.16% and the DOW is up 1.05%. EURCAD is down 0.35% trading between 1.5148 and 1.5256. GBPCAD is down 0.28% trading between 1.7077 and 1.7159. JPYCAD is down 0.21% trading between 0.01119 and 0.01125. Gold is down 0.56% trading between $1,332 and $1,341USD/oz., silver is down 0.70% trading between $16.79 and $17.36USD/oz., while oil is down 1.05% trading between $63.79 and $64.64.

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