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)

Technical Support / Resistance:

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:

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