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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 8, 2018

VBCE Daily Foreign Exchange Update for Tuesday, Feb. 8, 2018

USDCAD spot rate: 1.2575 - 1.2580 (as at 7:36am PST)

Ranges:

Asia:

1.2555

to

1.2565

Europe:

1.2559

to

1.2597

North America:

1.2545

to

1.2580

Technical Support / Resistance:

S2

S1

R1

R2

1.2455

1.2500

1.2600

1.2655

Key Economic Data Releases:

- U.S. Initial Jobless claims 221k (232k exp.) 230k previous

- Canadian Housing starts 216.2k (210.0k exp.) 216.3k previous

Event Calendar:

Date

Canada

U.S.A.

Feb. 9

Net employment change

Wholesale inventories

U.S. 10-year Treasuries dropped, pushing the yield to a four-year high, as U.K. gilts sold off. The Bank of England lifted its forecasts for economic growth and suggested it may need to raise interest rates faster than previously indicated, sending the pound higher. The euro fluctuated as ECB member Jens Weidmann said the central bank will monitor the impact of the currency on inflation. In Asia, the yuan earlier fell the most since the currency's devaluation in August 2015 after China reported a much narrower-than-expected trade surplus as imports jumped. Currently, the TSX is down .06% and the DJIA is down 0.47%. EURCAD is up 0.30% trading between 1.5370 and 1.5445. GBPCAD is up 1.35% trading between 1.7423and 1.7663. JPYCAD is down 0.55% trading between 0.01144 and 0.01151. Gold is down 0.50% trading between $1,307 and $1,319USD/oz., silver is down 0.80% trading between $16.25 and $16.47USD/oz., while oil is down 0.33% trading between $61.09 and $62.02

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

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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.