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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver April 20, 2018

USDCAD spot rate: 1.2720 - 1.2725 (as at 8:07am PST)

Ranges:

Asia:

1.2652

to

1.2677

Europe:

1.2647

to

1.2688

North America:

1.2632

to

1.2746

Technical Support / Resistance:

S2

S1

R1

R2

1.2580

1.2630

1.2745

1.2800

Key Economic Data Releases:

- Canada CPI m/m: 0.3% (exp 0.4% / prev 0.6%) y/y: 2.3% (exp 2.4% / prev 2.2%)

- CPI core common: 1.9% (prev 1.9%) median: 2.1% (prev 2.1%) trim: 2.0% (prev 2.1%)

- Canada retail sales: 0.4% (exp 0.4% / prev 0.1%) ex autos: 0% (exp 0.4% / prev 1.0%)

Event Calendar:

Date

Canada

U.S.A.

Apr. 23

Apr. 24

Apr. 25

Apr. 26

Apr. 27

Wholesale sales

Markit manufacturing PMI, existing home sales

New home sales, housing price index

EIA crude oil stocks change

Durable goods orders

GDP Q1 annualized, consumer sentiment index

Yesterday, USDCAD initially fell from 1.2645 down to 1.2583 before climbing to 1.2676 on the back of broad-based USD strength. The pairing moved up to 1.2688 overnight before falling to 1.2632 ahead of the Canadian retail sales and inflation data. Although inflation edged higher on both a monthly and an annual basis, the numbers were a touch softer than expected. Retail sales disappointed coming in flat after stripping out auto sales. USDCAD surged to 1.2700 on the release and has since climbed to 1.2746 – the highest since April 9th with pull-backs limited to 1.2717. Overall, the USD is the best performing currency for the 2nd straight day as treasury yields are back above 2.90% and the DXY is back above 90. It appears to be more about USD strength today as the CAD is relatively unchanged vs the other major currencies despite the softer economic data. Currently, the TSX is unchanged while the DJIA is down 0.30%. EURCAD is down 0.15% trading between 1.5540 and 1.5644. GBPCAD is unchanged trading between 1.7740 and 1.7864. JPYCAD is up 0.20% trading between 0.01174 and 0.01181. Gold is down 0.63% trading between $1,335 and $1,345USD/oz., silver is down 0.26% trading between $17.03 and $17.24USD/oz., while oil is down 0.70% trading between $67.50 and $68.60.

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

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