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

VBCE Daily Foreign Exchange Update for Friday, Mar. 10, 2017

USDCAD spot rate: 1.3470 - 1.3475 (as at 7:58am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada net employment change: 15,300 (exp 2,500 / prev 48,300)

- Canada unemployment rate: 6.6% (exp 6.8% / prev 6.8%)

- U.S. non-farm payrolls: 235,000 (exp 190,000 / prev 238,000)

- U.S. unemployment rate: 4.7% (exp 4.7% / prev 4.8%)

- U.S. average hourly earnings: 0.2% (exp 0.3% / prev 0.2%)

Key Event Calendar:

Yesterday, USDCAD climbed from 1.3482 up to 1.3535, the highest rate in nearly 1 year before settling in a 1.3495 – 1.3528 range for the balance of the session. U.S. jobs data came in pretty much as expected this morning leaving little doubt for the U.S. Fed to proceed with an interest rate hike next Wednesday. The Canadian jobs data beat expectations with very strong full-time job gains – the highest number of full-time jobs added for any given month over the past decade. USDCAD quickly tumbled from 1.3507 down to 1.3421 on the news. The USD weakened across the board while oil prices gained 2% in the immediate aftermath of the jobs report. However, the trend abruptly changed with oil prices having since fallen towards a 3 month low sending USDCAD up to 1.3480. A brief dip to 1.3440 has since been followed by another move up to 1.3480 (previous support now turned resistance). Currently, the TSX and the DJIA are relatively unchanged. EURCAD is up 0.50% trading between 1.4274 and 1.4365. GBPCAD is down 0.20% trading between 1.6330 and 1.6435. JPYCAD is unchanged trading between 0.01165 and 0.01175. Gold is down 0.16% trading between $1,195 and $1,206USD/oz., silver is down 0.42% trading between $16.85 and $17.08USD/oz., while oil is down 1% trading between $48.83 and $50.09.