Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver March 2, 2017

USDCAD spot rate: 1.3390 - 1.3395 (as at 8:00am PST)

Ranges:

Asia:

1.3323

to

1.3365

Europe:

1.3350

to

1.3385

North America:

1.3347

to

1.394

Technical Support / Resistance:

S2

S1

R1

R2

1.3300

1.3323

1.3395

1.3415

Key Economic Data Releases:

-U.S. Initial Jobless Claims 223k (243K exp.) 242k previous

-CAD GDP (Q4) 2.6% (2.0% exp.) 3.8% previous

Key Event Calendar:

Date

Canada

U.S.A.

Mar. 3

ISM non-manufacturing

European stocks held near 15-month highs and the dollar strengthened against other top global currencies on Thursday on growing expectations that the U.S. central bank will raise interest rates later this month.

Federal Reserve Governor Lael Brainard became on Wednesday the latest central bank official to signal that a hike may be in the offing, saying an improving global economy and a solid U.S. recovery meant it would be "appropriate soon" to raise rates. Federal fund futures prices suggest markets see a 70 per cent chance of a 25 basis point hike. European shares dipped after Wednesday's strong showing, gains on Asian bourses and new record highs on Wall Street. Although higher interest rates would raise U.S. companies' costs, they are also being seen as a sign of confidence in the economy and, along with U.S. President Donald Trump's speech to Congress, were cited as factors behind Wall Street's rise. Fed Chair Janet Yellen is due to speak on the economic outlook in Chicago on Friday. Currently, the TSX is down 0.12% and the DOW is up 0.02%. EURCAD is up 0.15% trading between 1.4039 and 1.4089. GBPCAD is up 0.33% trading between 1.6370 and 1.6452. JPYCAD is down 0.15% trading between 0.01168 and 0.01172. Gold is down 0.53% trading between $1,235 and $1,250USD/oz., silver is down 0.33% trading between $18.29 and $18.43USD/oz., while oil is down 1.30% trading between $52.70 and $53.77.

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