Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver March 5, 2018

USDCAD spot rate: 1.2970 - 1.2975 (as at 8:04am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. ISM non-manufacturing index: 59.5 (exp 59.0 / prev 59.0)

Event Calendar:

The verbal tit-for-tat trade rift across the Atlantic heated up over the weekend when President Trump tweeted that he would target European car imports in response to an EU threat to American products following the president's announcement of tariffs on steel and aluminum imports. Trump's trade advisors said in television interviews over the weekend that U.S. allies would not be excluded from metal import duties, with Peter Navarro, director of the National Trade Council at the White House, saying there may be exemptions for specific products deemed necessary for business growth. The president is expected to sign a formal executive order for the tariffs by the end of next week. Currently, the TSX is up 0.17% and the DOW is down 0.05%. EURCAD is up 0.80% trading between 1.5837 and 1.5995. GBPCAD is up 0.95% trading between 1.7768 and 1.7982. JPYCAD is up 0.66% trading between 0.01219 and 0.01227. Gold is down 0.09% trading between $1,319 and $1,327USD/oz., silver is down 0.40% trading between $16.35 and $16.59USD/oz., while oil is up 1.27% trading between $61.14 and $62.08.

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