Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver March 8, 2017

USDCAD spot rate: 1.3469- 1.3474 (as at 8:11am PST)

Ranges:

Asia:

1.3397

to

1.3435

Europe:

1.3424

to

1.3465

North America:

1.3443

to

1.3474

Technical Support / Resistance:

S2

S1

R1

R2

1.3350

1.3395

1.3490

1.3540

Key Economic Data Releases:

- Canada housing starts: 210.2k (exp 200k / prev 208.9k

- Canada building permits: 5.4% (exp 5.0% / prev -4.4%)

- U.S. ADP employment change: 298k (exp 190k / prev 261k)

- U.S. crude oil inventories: 8.209M (exp 1.66M / prev 1.501M)

Key Event Calendar:

Date

Canada

U.S.A.

Mar. 9

Mar. 10

New housing price index

Net employment change, unemployment rate

Import / export price index

Non-farm payrolls, unemployment rate, Average hourly earnings

U.S. Treasuries headed for the longest streak in 5 days and the Dollar rose as a private reading on U.S. payrolls exceeded expectations fueling bets the Federal Reserve will lift borrowing costs next week. U.S. stocks advanced after a 2 day slide. With a rate increase being priced into the market as a near certainty, bond yields are catching up with expectations for accelerating inflation. At the same time, price swings in bonds, currencies and stocks are all falling, signaling investors are sanguine about the prospects for global growth against the backdrop of higher borrowing costs. In the UK, Chancellor of the Exchequer Philip Hammond said during his speech this morning at Parliament that the Office for Budget Responsibility now sees 2017 economic growth of 2% compared with the 1.4% it predicted in November. He argued that Britain is well placed to weather the challenges as PM Theresa May prepares to trigger formal talks with the EU later this month, even as the latest prediction lags the forecast of 2.2% made a year ago before Britain voted to quit the bloc. Currently, the TSX is up 0.10% while the DOW is down 0.08%. EURCAD is up 0.26% trading between 1.4160 and 1.4217. GBPCAD is up 0.04% trading between 1.6315 and 1.6393. JPYCAD is down 0.19% trading between 0.01174 and 0.01179. Gold is down 0.61% trading between $1,206 and $1,218USD/oz., silver is down 1.07% trading between $17.28 and $17.54USD/oz., while oil is down 0.24% trading between $52.33 and $52.89.

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