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

USDCAD spot rate: 1.2905 - 1.2910(as at 8:03am PST)

Ranges:

Asia:

1.2859

to

1.2926

Europe:

1.2920

To

1.2951

North America:

1.2880

To

1.2925

Technical Support / Resistance:

S2

S1

R1

R2

1.2800

1.2850

1.2960

1.3080

Key Economic Data Releases:

- Canada Housing Starts 229.7K (216.6k exp.) 215.3k previous

- Canadian Building permits 5.6% (1.3% exp.) 2.5% previous

- U.S. Initial jobless claims 231k (220k exp.) 210k previous.

Event Calendar:

Date

Canada

U.S.A.

Mar. 9

Net employment change, unemployment rate

Non-farm payrolls, unemployment rate, average hourly earnings

U.S. stocks and Treasuries rose as investors took solace from suggestions that President Donald Trump's tariff plan will spare select countries. The dollar gained against the euro after the European Central Bank held its key rate and changed its language around stimulus. The S&P 500 Index gained for the fourth time in five days as the president appeared close to signing orders for new steel and aluminum tariffs dialed back to exempt some countries and soften chances of a trade war. European shares rose and the euro dropped versus the dollar as traders digested the ECB's decision to drop a pledge to increase asset purchases if necessary, and as President Mario Draghi downplayed the change. Ten-year Treasury yields fell toward 2.87 percent. Currently, the TSX is up 0.15% and the DOW is up 0.36%. EURCAD is down 0.43% trading between 1.5930 and 1.6067. GBPCAD is unchanged trading between 1.7865 and 1.7965. JPYCAD is down 0.30% trading between 0.01213 and 0.01220. Gold is down 0.34% trading between $1,320 and $1,329USD/oz., silver is down 0.29% trading between $16.44 and $16.56USD/oz., while oil is down 0.47% trading between $60.78 and $61.38

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

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