Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 9, 2018

USDCAD spot rate: 1.2860 - 1.2865 (as at 8:10am PST)

Ranges:

Asia:

1.2944

to

1.2976

Europe:

1.2860

to

1.2960

North America:

1.2840

to

1.2876

Technical Support / Resistance:

S2

S1

R1

R2

1.2750

1.2800

1.2990

1.3025

Key Economic Data Releases:

- Canada building permits: 3.1% (prev 2.0% / exp -2.8%)

- U.S. producer price index: 0.1% (prev 0.2% / exp 0.3%)

Event Calendar:

Date

Canada

U.S.A.

May 10

May 11

New housing price index

Net employment change, unemployment %

Consumer price index

Consumer sentiment index

President Donald Trump said the U.S. will withdraw from the 2015 Iran nuclear deal and impose the "highest level" of sanctions on the country. Leaders of the U.K., France and Germany, also signatories to the agreement, issued a statement saying they remained committed to the accord, while Iranian President Hassan Rouhani suggested his country would continue to abide by the deal. Among the first companies hit by Trump's decision are Boeing Co. and Airbus SE, with almost $40 billion in aircraft deals imperiled as new sanctions mean the loss of export licenses. Following a volatile session yesterday, crude has rebounded today. A barrel of West Texas Intermediate for June delivery was trading at $70.96 at 5:45am EST, with Brent at $76.86. Should oil average $70 a barrel this year, it would constitute a drag on U.S. growth equal to about half the 0.7 percentage-point GDP boost expected from the U.S. fiscal package, according to Oxford economics. The 10-year Treasury is back above 3% this morning, hitting 3.012% ahead of a $25 billion bond auction at 1:00pm EST. Currently the TSX is up 0.30% and the Dow is up 0.19%. EURCAD is down 0.65% trading between 1.5250 and 1.5374. GBPCAD is down 0.51% trading between 1.7434 and 1.7562. JPYCAD is down 1.28% trading between 0.01170 and 0.01187. Gold is up 0.04% trading between $1,304 and $1,317USD/oz., silver is up 0.63% trading between $16.34 and $16.61USD/oz., while oil is up 2.17% trading between $70.15 and $71.26.

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

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