Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 3, 2017

USDCAD spot rate: 1.3716 - 1.3721 (as at 7:54am PST)

Ranges:

Asia:

1.3707

to

1.3742

Europe:

1.3711

to

1.3737

North America:

1.3707

to

1.3728

Technical Support / Resistance:

S2

S1

R1

R2

1.3600

1.3657

1.3765

1.3800

Key Economic Data Releases:

- U.S. ADP employment: 177k (exp 175k / prev 255k)

- U.S. ISM non-mfg: 57.5 ( exp 55.8 / prev 55.2)

- U.S. crude oil inventories: -0.930M (exp -2.33M / prev -3.641M)

- Fed interest rate decision: 11AM

Key Event Calendar:

Date

Canada

U.S.A.

May 4

May 5

Trade balance

Net employment change, unemployment rate, Ivey PMI

Trade balance

Non-farm payrolls, unemployment rate, Avg. hourly earnings

At 11am PST time the Federal Reserve will announce it latest monetary policy decision, with none of the economists surveyed expecting any change in rates. With market-implied probabilities showing just over a 50% chance of two hikes by the end of the year, the statement will be scrutinized for further signaling of an increase next month. The bank's plan for reducing the size of its $4.5 trillion balance sheet are also likely to be a central topic of discussion. There is no press conference following today's decision. In Brussels this morning, European Union chief Brexit negotiator Michel Barnier revealed his vision for how talks on the U.K. exit would progress. In Britain, Brexit Secretary David Davis flatly rejected a report in the Financial Times suggesting the bill for exiting the union could be as high as 75 billion euros, saying the U.K. would walk away from a deal with the bloc if provoked. The pound is currently trading at 1.7690 as the fractious atmosphere surrounding the negotiations shows little signs of improving. Currently, the TSX is down 0.15% and the Dow is down 0.14%. EURCAD is down 0.05% trading between 1.4958 and 1.5010. GBPCAD is down 0.01% trading between 1.7701 and 1.7769. JPYCAD is down 0.27% trading between 0.01219 and 0.01225. Gold is down 0.64% trading between $1,245 and $1,256USD/oz., silver is down 1.55% trading between $16.52 and $16.88USD/oz., while oil is down 1.26% trading between $47.35 and $48.20.

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