Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 18, 2019

USDCAD spot rate: 1.3250 - 1.3255 (as at 8:23am PST)

Ranges:

Asia:

1.3266

to

1.3285

Europe:

1.3250

to

1.3278

North America:

1.3232

to

1.3281

Technical Support / Resistance:

S2

S1

R1

R2

1.3182

1.3230

1.3320

1.3370

Key Economic Data Releases:

- Canada CPI m/m: -0.1% (exp -0.4% / prev -0.4%) y/y: 2.0% (exp 1.7% / prev 1.7%)

- CPI Core common: 1.9% (prev 1.9%) median: 1.8% (prev 1.9%) trim: 1.9% (prev 1.9%)

- Foreign investment in Canadian securities: $9.45 billion (prev $3.97 billion)

- Canadian investment in foreign securities: -$4.09 billion (prev $14.92 billion)

- U.S. industrial production: 0.3% (exp 0.2% / prev 0.4%)

- U.S. consumer sentiment index: 90.7 (exp 97.0 / prev 98.3)

Event Calendar:

Date

Canada

U.S.A.

Jan 21

Jan 22

Jan 23

Jan 24

Jan 25

Manufacturing shipments

Retail sales

Martin Luther King Day

Existing home sales

Markit manufacturing / services PMI

Durable goods orders, new home sales

Yesterday, USDCAD climbed from 1.3260 up to 1.3319 (2 week high) before falling back to 1.3248. There was a sharp move lower in the early afternoon on headlines suggesting that the U.S. may lift trade tariffs on China as trade negotiations have recently stalled. The pairing climbed back to hold near 1.3280 for the balance of the session. The CAD is the best performing currency today with USDCAD falling to 1.3232 (near weekly low) this morning after higher than expected Canadian inflation data. The CAD is also benefiting from positive market risk sentiment with global indices and oil prices climbing towards 6 week highs on reported further progress in U.S. / China trade negotiations. USDCAD has subsequently climbed back to 1.3276 followed by another decline to 1.3238. Currently, the TSX and the DJIA are up 0.53% and 1.65% respectively – near 6 week highs. EURCAD is down 0.50% trading between 1.5043 and 1.5144 – near 6 week lows. GBPCAD is down 0.85% trading between 1.7075 and 1.7260. JPYCAD is down 0.60% trading between 0.01207 and 0.01216 – near 1 month lows. Gold is down 0.66% trading between $1,281 and $1,292USD/oz – near 7 month highs, silver is down 0.75% trading between $15.36 and $15.58USD/oz – near 6 month highs, while oil is up 2.70% trading between $52.40 and $54.17 – near 6 week highs.

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

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