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

USDCAD spot rate: 1.3668 - 1.3673 (as at 7:13am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada GDP (Feb): 0% (exp 0.1% / prev 0.6%) y/y: 2.5% (exp 2.6% / prev 2.3%)

- Canada industrial product price index: 0.8% (prev 0.3%)

- Canada raw materials price index: -1.6% (prev 1.3%)

- U.S. GDP (Q1): 0.7% (exp 1.2% / prev 2.1%)

- U.S. GDP price index: 2.2% (exp 2.0% / prev 2.1%)

- U.S. Chicago purchasing managers index: 58.3 (exp 56.4 / prev 57.7)

- U.S. consumer sentiment index: 97 (exp 98 / prev 98)

Key Event Calendar:

Yesterday, USDCAD climbed from 1.3610 up to 1.3649 before plummeting to 1.3528 during the Asian session after comments by President Trump that the NAFTA agreement would not be abandoned. By the time North American markets opened, the upward trend resumed taking USDCAD up to 1.3670 – a 14 month high before easing back towards 1.3620. The pairing retested yesterday's high overnight before falling back to 1.3632 ahead of the Canadian and U.S. GDP releases. The initial market reaction was muted despite the large downside miss to the U.S. data although there were some inflationary aspects. Canadian data also missed slightly. Oil prices are trending higher today – nonetheless USDCAD is currently challenging yesterday's high. Currently, the TSX is up 0.26% while the DJIA is down 0.12%. EURCAD is up 0.70% trading between 1.4802 and 1.4939. GBPCAD is up 0.40% trading between 1.7566 and 1.7683. JPYCAD is unchanged trading between 0.01222 and 0.01228. Gold is up 0.12% trading between $1,263 and $1,268USD/oz., silver is down 0.56% trading between $17.21 and $17.42USD/oz., while oil is up 1% trading between $49.97 and $49.75.