Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver March 15, 2017

USDCAD spot rate: 1.3444 - 1.3449 (as at 8:18am PST)

Ranges:

Asia:

1.3450

to

1.3480

Europe:

1.3433

to

1.3469

North America:

1.3433

to

1.3449

Technical Support / Resistance:

S2

S1

R1

R2

1.3380

1.3425

1.3485

1.3550

Key Economic Data Releases:

- U.S. CPI: 0.1% (exp 0.1% / prev 0.6%)

- U.S. retail sales: 0.1% (exp 0.1% / prev 0.6%)

- U.S. Fed interest rate decision & economic projections: 11am

- Yellen speech: 11:30am

Key Event Calendar:

Date

Canada

U.S.A.

Mar. 16

Mar. 17

Manufacturing sales

Building permits, housing starts, Philly Fed mfg.

Industrial production, consumer sentiment index

U.S. stocks edged higher as crude rebounded from a November low, while Treasuries advanced and the USD slipped before the Federal Reserve's anticipated rate increase at 11am, followed by Yellen's press conference at 11:30am. If market and economist expectations are correct, the central bank will raise interest rates 25 basis points. Investors will watch the post-decision press conference and forecasts from the bank closely to try to gauge the pace of future tightening. Volatility has returned to the crude market, with oil seeing intra-day moves of more than 2% in 4 of the last 6 session. Yesterday's news that Saudi Arabia has raised production drove the price of a barrel of West Texas Intermediate for April delivery close to $47, with the price rebounding later in the session after a report showed US stockpiles dropping. For U.S. shale producers, these fluctuations are less of a concern than might be expected as many of them have successfully hedged prices for most of the rest of the decade. Currently, the TSX is up 0.49% and the DOW is up 0.17%. EURCAD is down 0.09% trading between 1.4271 and 1.4320. GBPCAD is up 0.13% trading between 1.6372 and 1.6495. JPYCAD is down 0.26% trading between 0.01171 and 0.01175. Gold is up 0.23% trading between $1,197 and $1,205USD/oz., silver is up 0.07% trading between $16.83 and $16.97USD/oz., while oil is up 0.41% trading between $48.19 and $48.86.

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