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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 19, 2018

VBCE Daily Foreign Exchange Update for Friday, Jan. 19, 2018

USDCAD spot rate: 1.2438 - 1.2443 (as at 7:26am PST)

Ranges:

Asia:

1.2399

to

1.2430

Europe:

1.2400

to

1.2438

North America:

1.2428

to

1.2454

Technical Support / Resistance:

S2

S1

R1

R2

1.2360

1.2400

1.2480

1.2520

Key Economic Data Releases:

- Canada manufacturing sales: 3.4% (exp 2.0% / prev -0.4%)

- Foreign portfolio investment in CDN securities: $19.56 billion (exp $15.76B / prev $20.77B)

- CDN investment in foreign securities: -$4.59 billion (prev $16.56 billion)

- U.S. consumer sentiment index: 94.4 (exp 97.0 / prev 95.9)

Event Calendar:

Date

Canada

U.S.A.

Jan.22

Jan. 23

Jan. 24

Jan.25

Jan.26

Wholesale sales

Retail sales

CPI

House price index, Markit mfg / services

New home sales

GDP (Q4) annualized, durable goods orders

Yesterday, USDCAD initially climbed from 1.2430 up to 1.2480 before easing lower throughout the North American session eventually testing the 1.2400 level in late trade. The pairing climbed to 1.2438 overnight before another round of broad-based USD weakness took the pairing back down to 1.2400. USDCAD has since climbed to session highs near 1.2450 with pull-backs limited to 1.2430 thus far. GBPCAD traded up towards 7 month highs @ 1.7314 before falling back to 1.7224 on weaker than expected UK retail sales data. The JPY is the best preforming currency today amidst general USD weakness / risk aversion flows associated with the potential U.S. government shutdown at midnight tonight should the Senate not acquire enough votes for the stop-gap funding bill. Currently, the TSX and the DJIA are up 0.20% and 0.03% respectively. EURCAD is up 0.25% trading between 1.5180 and 1.5263- near 6 week highs. GBPCAD is unchanged trading between 1.7224 and 1.7314 – near 7 month highs. JPYCAD is up 0.60% trading between 0.01117 and 0.01126. Gold is up 0.54% trading between $1,326 and $1,338USD/oz., silver is up 0.54% trading between $16.95 and $17.13USD/oz., while oil is down 0.66% trading between $62.93 and $63.66.

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.