Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 26, 2018

USDCAD spot rate: 1.2317 - 1.2322 (as at 7:56am PST)










North America:




Technical Support / Resistance:









Key Economic Data Releases:

- Canada CPI m/m: -0.4% (exp -0.3% / prev 0.3%) y/y: 1.9% (exp 1.9% / prev 2.1%)

- Canada CPI core common: 1.6% (prev 1.5%) Trim: 1.9% (prev 1.8%) Median 1.9% (prev 1.9%)

- U.S. GDP Q4 annualized (first reading): 2.6% (exp 3.0% / prev 3.2%)

- U.S. GDP price index: 2.4% (exp 2.3% / prev 2.1%)

- U.S. durable goods orders: 2.9% (exp 0.8% / prev 1.7%)

Event Calendar:




Jan. 29

Jan. 30

Jan. 31

Feb. 1

Feb. 2

GDP (Nov.)

Markit manufacturing PMI

Personal income / spending, core PCE index

Home price indices

ADP employment change, Fed interest rate

Markit / ISM manufacturing PMI

Non-farm payrolls, unemployment rate, Avg. hourly earnings, consumer sentiment index

Yesterday, USDCAD initially dropped from 1.2350 down to 1.2290 before bouncing back up to 1.2340 on NAFTA headlines. The pairing then dropped back down to 1.2282 – a new 4 month low before comments from U.S. President Trump: "The dollar is going to get stronger and stronger, and ultimately I want to see a strong dollar." sent the USD higher across the board. USDCAD climbed to 1.2390 with pull-backs limited to 1.2360. The EURUSD surged from 1.2390 up to 1.2538 after the ECB interest rate decision and press conference – the highest level since Dec. 2014. Trump's strong dollar comments then knocked the EURUSD down to 1.2363. The GBPUSD rate had reached 1.4344 – the highest since the Brexit vote back in June of 2016. Trump's comments knocked the GBP back down to 1.4083. Overnight, a broad reversal took place as much of the USD gains were given back. USDCAD dropped back to 1.2300 before a spike up to 1.2360 this morning after Canadian headline CPI missed estimates. Core values were stronger and the pairing quickly fell back to 1.2307. Overall, the USD has recovered a good portion of its overnight losses despite the initial U.S. GDP (Q4) reading missing estimates and USDCAD has since climbed to 1.2332. Currently, the TSX is unchanged while the DJIA is up 0.28%. EURCAD is down 0.20% trading between 1.5289 and 1.5383. GBPCAD is down 0.25 trading between 1.7432 and 1.7596. JPYCAD is up 0.40% trading between 0.01125 and 0.01134. Gold is down 1% trading between $1,345 and $1,357USD/oz., silver is down 1.50% trading between $17.30 and $17.55USD/oz., while oil is up 0.45% trading between $65.24 and $65.89.

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


Follow us

Follow us on Twitter @vbcefx


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.