Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver March 24, 2017

USDCAD spot rate: 1.3375 - 1.3380 (as at 7:35am PST)

Ranges:

Asia:

1.3346

to

1.3379

Europe:

1.3352

to

1.3371

North America:

1.3346

to

1.3385

Technical Support / Resistance:

S2

S1

R1

R2

1.3263

1.3316

1.3409

1.3480

Key Economic Data Releases:

- Canada CPI m/m: 0.2% (exp 0.2% / prev 0.9%) y/y: 2.0% (exp 2.1% / prev 2.1%)

- Canada CPI core – Common: 1.3% prev 1.3% Median: 1.9% prev 1.9% Trim: 1.6% / prev 1.7%

- U.S. durable goods orders: 1.7% (exp 1.2% / prev 2.3%) Core: 0.4% (exp 0.5% / prev 0.2%)

- U.S. Markit manufacturing PMI: 53.4 (exp 54.8 / prev 54.2)

- U.S. Markit services PMI: 52.9 (exp 54.0 / prev 53.8)

Key Event Calendar:

Date

Canada

U.S.A.

Mar. 27

Mar. 28

Mar. 29

Mar. 30

Mar. 31

Bank of Canada Poloz speech

GDP (Jan)

Consumer confidence

Pending home sales / crude oil inventories

GDP Q4

Core PCE price index, personal income/spending

Yesterday, USDCAD initially dipped from 1.3340 down to 1.3316 before climbing to 1.3355. A subsequent dip to 1.3316 was short-lived with USDCAD bouncing to hold near 1.3340/50 for the balance of the North American trading session. Overnight, the pairing climbed to 1.3379 before falling to test session lows @ 1.3345 prior to the 5:30am release of the Canadian inflation data. A slight miss combined with better than expected U.S. data sent USDCAD up to 1.3385. After a brief move back to 1.3360, the pairing has again bounced to test the 1.3385 level. Oil prices continue to struggle holding below the $48 level while most currency pairings have seen limited moves as markets await the results of Trump's healthcare plan vote due out at 1:45pm this afternoon. Currently, the TSX and the DJIA are both up about 0.15%. EURCAD is up 0.25% trading between 1.4377 and 1.4462. GBPCAD is down 0.15% trading between 1.6660 and 1.6723. JPYCAD is unchanged trading between 0.01200 and 0.01205. Gold is unchanged trading between $1,241 and $1,248USD/oz., silver is up 0.85% trading between $17.54 and $17.76USD/oz., while oil is unchanged trading between $47.65 and $48.09.

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