New Retail Summer Hours! Effective June 2, 2018 South Granville & Richmond Branches - Monday - Friday 9am-5pm; Saturdays 9:30am - 4:30pm | Downtown Monday - Friday 8:30am - 5pm.
×

Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver March 16, 2018

USDCAD spot rate: 1.3090 - 1.3095 (as at 7:58am PST)

Ranges:

Asia:

1.3044

to

1.3073

Europe:

1.3052

to

1.3085

North America:

1.3064

to

1.3095

Technical Support / Resistance:

S2

S1

R1

R2

1.2940

1.3000

1.3100

1.3150

Key Economic Data Releases:

- Canada manufacturing shipments: -1.0% (exp -0.8% / prev -0.1%)

- U.S. housing starts: 1.236m (exp 1.29m / prev 1.329m) % change: -7% (prev 10.1%)

- U.S. building permits: 1.298m (exp 1.32m/prev 1.377m) %change: -5.7%(exp -12.3%/prev5.9%)

- U.S. industrial production: 1.1% (exp 0.3% / prev -0.3%)

- U.S. consumer sentiment index: 102 (exp 99.3 / prev 99.7)

Event Calendar:

Date

Canada

U.S.A.

Mar. 19

Mar. 20

Mar. 21

Mar. 22

Mar. 23

Wholesale sales

Retail sales, CPI

Fed interest rate decision, economic projections

Housing price index, Markit manufacturing PMI

Durable goods orders, new home sales

Yesterday, USDCAD climbed from 1.2942 up to 1.3070 with pull-backs limited to1.3043. It was the first time USDCAD has closed above the 1.30 level since June 2017. Overnight, the pairing climbed to 1.3095 before falling back to 1.3064 on softer U.S. housing data. USDCAD has since bounced back to retest session highs. The JPY is the best performing currency despite positive market sentiment while the USD is the 2nd strongest performer. The commodity block (AUD, CAD, NZD) are the worst performers. The main event risk is next Wednesday's U.S. interest rate decision along with economic projections. The market is currently pricing a 94% chance of a U.S. rate hike. Currently, the TSX and the DJIA are up 0.60% and 0.40% respectively. EURCAD is unchanged trading between 1.6050 and 1.6140. GBPCAD is unchanged trading between 1.8173 and 1.8292. JPYCAD is up 0.40% trading between 0.01227 and 0.01239. Gold is down 0.50% trading between $1,310 and $1,321USD/oz., silver is down 1% trading between $16.25 and $16.49USD/oz., while oil is unchanged trading between $61.09 and $61.40.

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

083e3d7a6b

Follow us




Follow us on Twitter @vbcefx


Disclaimer


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.