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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