Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 14, 2018

USDCAD spot rate: 1.3040 - 1.3045 (as at 7:40am PST)

Ranges:

Asia:

1.2988

to

1.3010

Europe:

1.2981

to

1.3010

North America:

1.2985

to

1.3048

Technical Support / Resistance:

S2

S1

R1

R2

1.2900

1.2980

1.3050

1.3110

Key Economic Data Releases:

- U.S. retail sales: 0.1% (exp 0.4% / prev 0.7%) ex autos: 0.7% (exp 0.5% / prev 0.9%

- U.S. industrial production: 0.4% (exp 0.3% / prev 0.4%)

- U.S. consumer sentiment index: 100.8 (exp 96.6 / prev 96.2)

Event Calendar:

Date

Canada

U.S.A.

Sept 17

Sept 18

Sept 19

Sept 20

Sept 21

Foreign investment in Cdn securities

Manufacturing shipments

Retail sales, CPI

NY Empire state manufacturing index

Housing starts, building permits

Phil. Fed mfg. survey, existing home sales

Markit manufacturing / services PMI

Yesterday, USDCAD initially dropped from 1.3010 down to 1.2973 (a 2 week low) on weaker than expected U.S. CPI data and broad USD weakness before climbing to session highs at 1.3028. The pairing subsequently dropped back to 1.2983 before holding near 1.30 for the balance of the session. U.S. retail sales data was weaker than expected although positive revisions to prior data made up for the shortfall. USDCAD initially dropped from 1.3010 down to 1.2985 before climbing to 1.3048. Overnight, the USD was broadly weaker with the DXY (USD index) falling to a 6 week low. The USD has broadly recovered this morning after its initial bought of weakness (after the retail sales report) and is the best performing currency during this morning's North American session. Currently, the TSX and the DJIA are unchanged. EURCAD is unchanged trading between 1.5179 and 1.5226 – near 1 week lows. GBPCAD is unchanged trading between 1.7017 and 1.7093 – near 6 week highs. JPYCAD is up 0.25% trading between 0.01159 and 0.01164 – near 7 month lows. Gold is down 0.25% trading between $1,197 and $1,209USD/oz., silver is down 0.15% trading between $14.09 and $14.28USD/oz., while oil is down 0.76% trading between $67.92 and $69.11 – now unchanged on the week after Tuesday's 5.5% surge to $71.

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

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