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

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

Ranges:

Asia:

1.2876

to

1.2920

Europe:

1.2900

to

1.2985

North America:

1.2956

to

1.2977

Technical Support / Resistance:

S2

S1

R1

R2

1.2750

1.2870

1.2990

1.3025

Key Economic Data Releases:

- CAD Housing starts 214k (220k exp.) 225k previous

Event Calendar:

Date

Canada

U.S.A.

May 9

May 10

May 11

Building permits

New housing price index

Net employment change, unemployment %

Producer price index

Consumer price index

Consumer sentiment index

The dollar rallied while oil dropped as traders braced themselves for President Donald Trump's decision on the Iran nuclear deal. Stocks edged lower in the U.S. and Europe. The greenback strengthened for a third session as Federal Reserve Chairman Jerome Powell stuck with a message of gradual tightening. Italian shares tumbled on the prospect for fresh elections that may boost the chances of a populist government taking power. West Texas crude fell below $70 a barrel after reaching the highest since 2014. Currently the TSX is down .06% and the Dow is down .26%. EURCAD is down 0.20% trading between 1.5335 and 1.5443. GBPCAD is up 0.07% trading between 1.7473 and 1.7558. JPYCAD is up 0.77% trading between 0.01182 and 0.01191. Gold is down 0.84% trading between $1,306 and $1,317USD/oz., silver is down 0.94% trading between $16.34 and $16.52USD/oz., while oil is down 1.55% trading between $69.80 and $70.30.

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

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