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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver April 13, 2018

USDCAD spot rate: 1.2580 - 1.2585 (as at 7:53am PST)

Ranges:

Asia:

1.2580

to

1.2596

Europe:

1.2550

to

1.2585

North America:

1.2557

to

1.2601

Technical Support / Resistance:

S2

S1

R1

R2

1.2500

1.2550

1.2625

1.2680

Key Economic Data Releases:

- Canada existing home sales: 1.3% (prev -6.5%)

- U.S. consumer sentiment index: 97.8 (exp 100.5 / prev 101.4)

Event Calendar:

Date

Canada

U.S.A.

Apr. 16

Apr. 17

Apr. 18

Apr. 19

Apr. 20

Manufacturing shipments, international securities transactions

Bank of Canada interest rate decision

CPI

Retail sales, NY Empire state mfg. index

Building permits, housing starts, industrial production

Philly Fed manufacturing survey

Yesterday, the downtrend in USDCAD stalled (the pairing had declined 8 days in a row until yesterday) with a climb from 1.2570 up to 1.2624. The pairing then eased lower to hold a 1.2580 – 1.2595 range for most of the North American session. Overnight, USDCAD dropped to 1.2550, just shy of Wednesday's two month low near 1.2543. The move lower was short-lived as hawkish comments by U.S. Fed members this morning has caused equity markets to fall into negative territory. USDCAD has climbed back above 1.2600 accordingly. The main risk event next week is Wednesday's Bank of Canada interest rate policy announcement. With core inflation near 6 year highs and NAFTA risk easing over the past month; it is quite possible that the BOC will raise interest rates from 1.25% up to 1.50%. Currently, the TSX is unchanged while the DJIA is down 0.50%. EURCAD is down 0.10% trading between 1.5460 and 1.5533. GBPCAD is up 0.15% trading between 1.7887 and 1.7982. JPYCAD is down 0.35% trading between 0.01166 and 0.01173. Gold is up 0.40% trading between $1,333 and $1,345USD/oz., silver is up 1% trading between $16.45 and $16.67USD/oz., while oil is up 0.28% trading between $66.69 and $67.77.

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


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