Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver November 8, 2017

USDCAD spot rate: 1.2735 - 1.2740 (as at 8:10am PST)

Ranges:

Asia:

1.2751

to

1.2776

Europe:

1.2720

to

1.2770

North America:

1.2719

to

1.2748

Technical Support / Resistance:

S2

S1

R1

R2

1.26

1.2686

1.2803

1.2850

Key Economic Data Releases:

- Canada Housing starts: 222.8k (exp 210.0k / prev 219.3k)

- Canada Building permits: 3.8% (exp -0.2% / prev -5.1%)

- U.S. crude oil inventories: -2.237M (exp -2.876M / prev -2.435M)

Key Event Calendar:

Date

Canada

U.S.A.

Nov. 9

Nov. 10

New housing price index

Consumer sentiment index

The S&P 500 Index and Dow Jones Industrial Average were lower, dragged down by financial firms. European shares slipped following disappointing results from Credit Agricole SA. The EUR strengthened and core government bond yields budged lower. Sterling fell amid tensions in the U.K. government, where Prime Minster Theresa May is weighing whether to fire a cabinet member only 7 days after her defense secretary quit in a sexual harassment scandal. In the U.S., the focus is on when, and whether, president's tax plan will shape. The Washington Post reported that Senate Republican leaders were considering holding cuts back a year, while they are also said to be considering repealing deductions for state and local taxes. The prospect of lower corporate taxes has helped drive stocks to record levels this year. Currently, the TSX is down 0.31% and the DOW is down 0.09%. EURCAD is down 0.18% trading between 1.4747 and 1.4809. GBPCAD is down 0.74% trading between 1.6651 and 1.6816. JPYCAD is down 0.04% trading between 0.01119 and 0.01122. Gold is up 0.47% trading between $1,275 and $1,285USD/oz., silver is up 0.41% trading between $16.97 and $17.12USD/oz., while oil is down 1.27% trading between $56.44 and $57.14.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group

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