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)

Ranges:

Asia:

1.3493

to

1.3513

Europe:

1.3483

to

1.3503

North America:

1.3421

to

1.3515

Technical Support / Resistance:

S2

S1

R1

R2

1.3384

1.3421

1.3480

1.3535

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:

Date

Canada

U.S.A.

Mar. 13

Mar. 14

Mar. 15

Mar. 16

Mar. 17

Manufacturing sales

Producer price index

CPI, retail sales, Fed interest rate / economic projections / Yellen speech

Building permits, housing starts, Philly Fed mfg.

Industrial production, consumer sentiment index

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.


083e3d7a6b

Follow us




Follow us on Twitter @vbcefx


Disclaimer


The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.