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Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver April 2, 2018

USDCAD spot rate: 1.2908 - 1.2913 (as at 8:05am PST)

Ranges:

Asia:

1.2876

to

1.2898

Europe:

1.2862

to

1.2889

North America:

1.2875

to

1.2895

Technical Support / Resistance:

S2

S1

R1

R2

1.2800

1.2850

1.2950

1.3000

Key Economic Data Releases:

- Canada Markit Manufacturing PMI: 55.7 (exp 55.7 / prev 55.6)

- U.S. Markit Manufacturing PMI: 55.6 (exp 55.7 / prev 55.7)

- U.S. ISM Manufacturing PMI: 59.3 (exp 60.0 / prev 60.8)

Event Calendar:

Date

Canada

U.S.A.

Apr.03

Apr.04

Apr.05

Apr.06

Imports, exports

Housing starts, Net change employment

ADP employment change

Jobless claims

Unemployment rate

Investors are entering the 2nd quarter on the defensive after the worst 3 months for global stocks in more than 2 years. Overnight, the MSCI Asia Pacific Index was unchanged, while Japan's Topix index closed 0.4% lower. Most European markets remained closed for the Easter holiday. As of 5:50am EST, S&P 500 futures pointed to a drop at the open, while the 10-year Treasury yield was at 2.764%. With the start of the new month, investors will have a chance to focus on a bunch of incoming economic data, including U.S. payrolls on Friday, which are expected to show unemployment fall to its lowest level since 2000. The prospect of a trade war intensified after China urged trade talks with the U.S. while saying that previously announced retaliatory measures on American imports took effect on Monday. Beyond the actions on metals, the Trump administration is preparing a proposal of other Chinese products to be targeted with tariffs and has until April 6 to release the list. In other trade-war news, President Trump threatened to pull out of NAFTA if Mexico doesn't stop people and drugs from flowing into the U.S. from Central America. Currently, the TSX is down 0.60% and the DOW is down 0.82%. EURCAD is down 0.04% trading between 1.5867 and 1.5892. GBPCAD is up 0.16% trading between 1.8082 and 1.8121. JPYCAD is down 0.08% trading between 0.01209 and 0.01213. Gold is up 0.91% trading between $1,325 and $1,338USD/oz., silver is up 1.64% trading between $16.38 and $16.64USD/oz., while oil is down 1.52% trading between $63.77 and $65.41.

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

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