Daily foreign exchange rates for our top 10 currencies & Updates #forex #Vancouver April 7, 2017

USDCAD spot rate: 1.3370 - 1.3375 (as at 7:15am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada net employment change: 19,400 (exp 5,000 / prev 15,300)

- Canada unemployment rate: 6.7% (exp 6.7% / prev 6.6%)

- Canada Ivey purchasing managers index: 61.1 (exp 56.3 / prev 55.0)

- U.S. non-farm payrolls: 98,000 (exp 180,000 / prev 219,000)

- U.S. unemployment rate: 4.5% (exp 4.7% / prev 4.7%)

- U.S. average hourly earnings: 0.2% (exp 0.2% / prev 0.3%)

Key Event Calendar:

Yesterday, USDCAD climbed from 1.3428 up to 1.3451 (Tuesday's high was 1.3456) before falling to 1.3400. The pairing bounced off this level for the 2^nd straight day before holding near 1.3410/15 for the balance of the session. Risk aversion flows in early Asia from the U.S. missile attacks on a Syrian airbase saw USDCAD spike up to 1.3431 before a 3% surge in oil prices led a decline to 1.3381. The pairing bounced back to 1.3422 going into the 5:30am jobs report. Canada beat expectations also noting a gain of 18,400 full time jobs (prior month was 105,100) while U.S. data was mixed. The headline of 98,000 was low considering the ADP forecast was 263,000 (ADP has been fairly accurate recently) while the unemployment rate actually declined to 4.5%. The USD is actually gaining vs. all major currencies after the report with the exception of the CAD. USDCAD initially dropped to 1.3340, a 5 day low but has climbed all the way back to 1.3382. Currently, the TSX is down 0.18% while the DJIA is relatively unchanged. EURCAD is down 0.50% trading between 1.4180 and 1.4294. GBPCAD is down 1% trading between 1.6552 and 1.6734. JPYCAD is down 0.33% trading between 0.01205 and 0.01217. Gold is up 1.13% trading between $1,250 and $1,271USD/oz., silver is up 0.57% trading between $18.21 and $18.47USD/oz., while oil is up 0.31% trading between $51.52 and $52.91.