Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 24, 2018

USDCAD spot rate: 1.2925 - 1.2930 (as at 8:00am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada wholesale sales: 1.5% (exp 0.4% / prev -0.8%)

Event Calendar:

All three major U.S. equity indexes slipped, led by drops for auto companies and makers of consumer goods after China warned it won't meet with U.S. officials unless they stop threatening to expand tariffs. The escalation in cross-Pacific trade tensions are testing global equities, which have posted two strong weeks of gains in part due to optimism that economies can weather any potential disruption. JPMorgan Chase & Co. said it's starting to factor into its strategy a growing potential for a "Phase III" of the tariff war next year affecting all Chinese imports, which would lead to weaker growth in the country and hit U.S. stocks. Elsewhere, the euro jumped and the region's sovereign bonds dropped after European Central Bank President Mario Draghi predicted a pickup in underlying inflation. The Stoxx Europe 600 Index ended a six-day winning streak. Coming up this week is the Federal Reserve's policy meeting that will likely see interest rates increased for the third time this year, with markets increasingly pricing for another one in December. Currently, the TSX is up 0.14% and the DOW is down 0.60%. EURCAD is up 0.36% trading between 1.5165 and 1.5262. GBPCAD is up 0.57% trading between 1.6885 and 1.7028. JPYCAD is up 0.13% trading between 0.01146 and 0.01150. Gold is up 0.39% trading between $1,194 and $1,204USD/oz., silver is up 0.83% trading between $14.18 and $14.39USD/oz., while oil is up 1.74% trading between $71.48 and $72.38.

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