Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver April 4, 2017

USDCAD spot rate: 1.3435 - 1.3440 (as at 7:57am PST)

Ranges:

Asia:

1.3371

to

1.3415

Europe:

1.3406

to

1.3449

North America:

1.3430

to

1.3456

Technical Support / Resistance:

S2

S1

R1

R2

1.3370

1.3400

1.3455

1.3480

Key Economic Data Releases:

- Canada trade balance: -$0.97 billion (exp $0.50 billion / prev $0.42 billion)

- U.S. trade balance: -$43.60 billion (exp -$44.80 billion / prev -$48.20 billion)

- Australian central bank interest rate: unchanged @ 1.50% w/ dovish rhetoric

Key Event Calendar:

Date

Canada

U.S.A.

Apr. 5

Apr. 6

Apr. 7

Building permits

Net employment change, unemployment rate, Ivey PMI

ADP employment change, ISM non-mfg index

Non-farm payrolls, unemployment rate, avg hourly earnings

Yesterday, USDCAD climbed from 1.3322 up to 1.3400 before holding a 1.3371 – 1.3400 range for most of the North American session. Broad-based USD strength late in the Asian session saw USDCAD finally break through the 1.3400 level with the trend continuing into this morning's session. Canada was expecting another trade surplus for the 3rd consecutive month but the month of February was about a $1 billion deficit. Also, January's surplus saw a negative revision which reduced it by about 50%. After touching 1.3456 – a 3 week high, the pairing has since eased to 1.3430. Currently, the TSX and the DJIA are relatively unchanged. EURCAD is up 0.30% trading between 1.4267 and 1.4338. GBPCAD is up 0.20% trading between 1.6632 and 1.6748. JPYCAD is up 0.82% trading between 0.01206 and 0.01218. Gold is up 0.33% trading between $1,253 and $1,261USD/oz., silver is up 0.54% trading between $18.21 and $18.41USD/oz., while oil is up 0.72% trading between $49.91 and $50.67.

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