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

USDCAD spot rate: 1.3372 - 1.3377 (as at 8:13am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. retail sales: 0.2% (exp 0.2% / prev 1.1%) ex autos: 0.2% (exp 0.2% / prev 1.0%)

- U.S. retail sales control group: 0.9% (exp 0.4% / prev 0.7%)

- U.S. industrial production: 0.6% (exp 0.3% / prev -0.2%)

- U.S. Markit manufacturing index: 53.9 (exp 55.1 / prev 55.3)

- U.S. Markit services index: 53.4 (exp 54.7 / prev 54.7)

Event Calendar:

Yesterday, USDCAD climbed from 1.3350 up to 1.3384 before easing back to hold a 1.3338 – 1.3365 range. Overnight, weaker than expected data out of China and the Eurozone saw equity markets decline and the USD and JPY broadly strengthen. The USD index re-tested the June 2017 highs (previously tested last month) after U.S. retail sales data (control group) beat expectations. USDCAD briefly climbed to 1.3402 overnight but has since declined to 1.3368. The pairing has since bounced back towards 1.3390. Currently, the TSX and the DJIA are down 0.82% and 1.68% respectively. EURCAD is down 0.41% trading between 1.5084 and 1.5202 – near 1week lows. GBPCAD is down 0.58% trading between 1.6770 and 1.6920 – near 6week lows. JPYCAD is up 0.36% trading between 0.01174 and 0.01180. Gold is down 0.32% trading between $1,233 and $1,243USD/oz – near 5month highs, silver is down 1% trading between $14.49 and $14.77USD/oz., while oil is down 2.36% trading between $51.72 and $53.17.

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