Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver February 1, 2017

USDCAD spot rate: 1.3068 - 1.3073 (as at 8:15am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. ADP employment: 246k (exp 165k / prev 151k)

- U.S. ISM mfg: 56.0 (exp 55.0 / prev 54.7)

- U.S. Fed interest rate decision 11am

Key Event Calendar:

At 11am the Federal Reserve Open Market Committee will announce its latest monetary policy decision, and with only 1 of 94 economists surveyed by Bloomberg expecting a rise in rates, investor attention will concentrate on the statement's language to gauge how the bank is reacting to the new administration. There is no press conference today, and current market-implied probabilities of a hike do not rise above 50% until the June meeting. Uncertainty continued as the main theme for Bank of Canada Governor Stephen Poloz, who in a speech Tuesday highlighted the challenges of economic modeling in times of disruptive change. In remarks to the University of Alberta School of Business, Poloz outlined how uncertainty means policy making is far from an exact science and judgment matters. Geopolitical risks for example could increase the central bank's tolerance of small shocks, he said. Uncertainty has been a central narrative for the Bank of Canada governor for months, but one that has taken a more pointed focus since President Donald Trump's election victory. Poloz cited the risk of disruptive US trade policies in a rate decision 2 weeks ago, even as he's downplayed any possible benefits. Currently, the TSX is down 0.10% and the DOW is up 0.12%. EURCAD is down 0.01% trading between 1.4040 and 1.4130. GBPCAD is up 0.90% trading between 1.6378 and 1.6552. JPYCAD is down 0.28% trading between 0.01149 and 0.01157. Gold is down 0.71% trading between $1,198 and $1,213USD/oz., silver is down 0.59% trading between $17.36 and $17.61USD/oz., while oil is up 0.86% trading between $52.67 and $53.37.