Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver March 28, 2017

USDCAD spot rate: 1.3358 - 1.3363 (as at 8:24am PST)

Ranges:

Asia:

1.3376

to

1.3397

Europe:

1.3366

to

1.3414

North America:

1.3356

to

1.3386

Technical Support / Resistance:

S2

S1

R1

R2

1.3263

1.3316

1.3414

1.3480

Key Economic Data Releases:

- Canada Poloz speech

- U.S. goods trade balance: -$64.8 billion (exp -$66.6 billion / prev -$68.84 billion)

- U.S. consumer confidence: 125.6 (exp 114 / prev 116.1)

- U.S. Fed Yellen speech

Key Event Calendar:

Date

Canada

U.S.A.

Mar. 29

Mar. 30

Mar. 31

GDP (Jan)

Pending home sales / crude oil inventories

GDP Q4

Core PCE price index, personal income/spending

Yesterday, USDCAD initially dropped from 1.3375 down to 1.3320 before climbing to 1.3405. The move higher was short-lived with a decline to 1.3362. The pairing would bounce to hold near 1.3375/85 for the balance of the session. Overnight, USDCAD tested the 1.34 level a few times during the London session before falling to 1.3360 in early North American trade. Another rally stalled at 1.3386 and despite dovish comments from Bank of Canada's Poloz (talking about recession risks to raising interest rates too early / interest rate cuts still on the table) USDCAD has since fallen to session lows. The GBP was trending higher overnight targeting 1.69 – a 4 month high but has since given up its gains as markets square positions ahead of the triggering of Article 50 (implementing the start of Brexit) tomorrow. Currently, the TSX and the DJIA are both up about 0.50%. EURCAD is down 0.20% trading between 1.4506 and 1.4561. GBPCAD is down 0.50% trading between 1.6713 and 1.6881. JPYCAD is unchanged trading between 0.01208 and 0.01214. Gold is unchanged trading between $1,251 and $1,258USD/oz., silver is up 0.50% trading between $18 and $18.20USD/oz., while oil is up 2% trading between $47.83 and $48.72.

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