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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 7, 2018

USDCAD spot rate: 1.2534- 1.2539 (as at 7:56am PST)

Ranges:

Asia:

1.2495

to

1.2525

Europe:

1.2502

to

1.2546

North America:

1.2504

to

1.2546

Technical Support / Resistance:

S2

S1

R1

R2

1.2430

1.2481

1.2556

1.2625

Key Economic Data Releases:

- Canada building permits: 4.8% (exp 2.0% / exp -7.7%)

- U.S. EIA crude oil stocks: 1.895M (exp 3.189M / epx 6.776M)

Event Calendar:

Date

Canada

U.S.A.

Feb. 8

Feb. 9

Housing starts

Net employment change

Wholesale inventories

U.S. stocks climbed in early trading, as investors looked past concerns that a strong economy may accelerate the removal of monetary stimulus. The Dow Jones Industrial Average and S&P 500 Index both rose today, following the previous session's late surge. Treasuries rose, pinning the 10-year yield below 2.8%, while the USD is up slightly. The violent moves over the past couple of days have investors asking if this is the end of the bull market, or a buying opportunity. Currently, the TSX is up 0.22% and the DOW is up 0.67%. EURCAD is down 0.37% trading between 1.5390 and 1.5507. GBPCAD is down 0.15% trading between 1.7363 and 1.7488. JPYCAD is up 0.53% trading between 0.01140 and 0.01146. Gold is down 0.29% trading between $1,320 and $1,332USD/oz., silver is down 1.44% trading between $16.38 and $16.77USD/oz., while oil is down 0.95 trading between $62.73 and $64.18

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

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