Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 3, 2018

USDCAD spot rate: 1.2850 - 1.2855 (as at 8:18am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. Trade Balance -49.0B (-50.0B exp.) -57.7B previous

- U.S. Initial jobless claims 211k (225K exp.) 209k previous

- Canadian International Merchandise trade -4.14B (-2.24B exp.) -2.93B previous

Event Calendar:

Canada's trade deficit unexpectedly widened to a record in March as a surge in automobile imports outpaced a rebound for the nation's exporters. The merchandise trade deficit widened to C$4.14 billion from C$2.93 billion a month earlier, Statistics Canada reported Thursday in Ottawa. Economists predicted the March figure would narrow to C$2.25 billion. The figures represent a mixed picture for the trade sector. Policy makers will be reassured by a rise in exports and signs of dissipating railway bottlenecks, while the jump in imports implies trade acted as a major drag on first-quarter growth. Currently, the TSX is down 0.03% while the DOW is down 0.75%. EURCAD is down 0.09% trading between 1.5360 and 1.5430. GBPCAD is down 0.15% trading between 1.7422 and 1.7507. JPYCAD is up 0.39% trading between 0.01170 and 0.01176. Gold is up 0.15% trading between $1,305 and $1,317USD/oz., silver is up 0.48% trading between $16.36 and $16.59USD/oz., while oil is down 0.78% trading between $67.36 and $68.24.

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