Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver March 21, 2017

USDCAD spot rate: 1.3325 - 1.3330 (as at 8:45am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada retail sales: 2.2% (exp 1.1% / prev -0.4%) Core: 1.7% (exp 1.1% / prev -0.5%)

- U.S. current account Q4: -$112.4 billion (exp -$128.2B / prev -$116.0B)

Key Event Calendar:

Yesterday, USDCAD initially fell from 1.3350 down to 1.3304 before bouncing to 1.3374. The pairing would hold a 1.3340/65 range for the balance of the North American session. USDCAD had a quick move to 1.3321 in Asian trade before climbing to 1.3366 on broad-based USD strength on the back of dovish Australian central bank minutes. The trend changed in London with higher than expected UK inflation leading the GBP higher across the board and sending USDCAD down to 1.3310. Strong Canadian retail sales data propelled USDCAD down to 1.3263, breaking below last week's 1.3276 low. However, the move could not be sustained and USDCAD rallied back to session highs near 1.3335 as oil plunged nearly 3% after comments about Russia extending oil cuts and risk aversion flows sent the yen higher / stocks lower. Currently, the TSX and the DJIA are down 0.20% and 1% respectively. EURCAD is up 0.40% trading between 1.4310 and 1.4413. GBPCAD is up 0.75% trading between 1.6486 and 1.6626. JPYCAD is up 0.32% trading between 0.01180 and 0.01191. Gold is up 0.65% trading between $1,227 and $1,243USD/oz., silver is up 0.65% trading between $17.34 and $17.60USD/oz., while oil is down 1% trading between $48.27 and $49.45.