Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver March 23, 2017
VBCE Daily Foreign Exchange Update for Thursday, Mar. 23, 2017
USDCAD spot rate: 1.3325 - 1.3330 (as at 7:45am PST)
| Ranges: | Asia: | 1.3318 | to | 1.3340 |
| Europe: | 1.3316 | to | 1.3355 | |
| North America: | 1.3316 | to | 1.3345 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.3263 | 1.3316 | 1.3355 | 1.3409 |
Key Economic Data Releases:
- U.S. new home sales: 592k (exp 565k / prev 558k) % change: 6.1% (exp 0.7% / prev 5.3%)
- U.S. initial jobless claims: 258k (exp 240k / prev 243k)
Key Event Calendar:
| Date | Canada | U.S.A. |
| Mar. 24 | CPI | Durable goods orders, Markit mfg./services PMI |
Yesterday, USDCAD climbed from 1.3347 up to 1.3409 before falling back to 1.3370. Several repeated attempts to regain the 1.34 level failed and the pairing drifted lower towards 1.3320 over the balance of the North American trading session. Oil prices recovered despite a sizeable increase in oil inventories while the USD broadly weakened on reports that Trump may not have the votes to push through his healthcare plan. This could be the precursor for Trump's ability to advance through his other pro-growth policies. Overnight, USDCAD held an uneventful 1.3316 – 1.3355 range which has been even narrower so far in this morning's session. The JPY continues to outperform with JPYCAD trading near 4 month highs as yen repatriation season comes into effect before the March 31 fiscal year end. After trading near a 4 year high earlier in the week, AUDCAD has fallen to 1.0170 (from 1.0330) on sliding iron ore prices and dovish central bank minutes. Currently, the TSX and the DJIA are little changed. EURCAD is unchanged trading between 1.4358 and 1.4403. GBPCAD is up 0.35% trading between 1.6622 and 1.6718. JPYCAD is unchanged trading between 0.01195 and 0.01205. Gold is down 0.20% trading between $1,244 and $1,253USD/oz., silver is up 0.25% trading between $17.52 and $17.69USD/oz., while oil is down 0.65% trading between $47.61 and $48.45.
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