Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 31, 2018

USDCAD spot rate: 1.2965 - 1.2970 (as at 7:22am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. initial jobless claims 221k (228k exp.) 234k previous

- Canadian GDP 1.3% (1.8% exp.) 1.7% previous

Canada's economic growth rate trailed forecasts in the first quarter on the weakest household spending in three years and slower business investment. Gross domestic product expanded at a 1.3 percent annualized pace in the January to March period, the slowest in almost two years. The expansion trailed the lowest estimate in a Bloomberg economist survey where the consensus was for a slight acceleration from the fourth quarter to 1.8 percent. Further bad news followed as the White House Slaped Metal Tariffs on Europe, Canada and Mexico. Currently, the TSX is down 0.26% and the DOW is down 0.51%. EURCAD is up 0.46% trading between 1.4976 and 1.5131. GBPCAD is up 0.53% trading between 1.7066 and 1.7246. JPYCAD is up 0.72% trading between 0.01177 and 0.01195. Gold is up 0.94% trading between $1,298 and $1,306USD/oz., silver is up 1.34% trading between $16.39 and $16.59USD/oz., while oil is down 1.31% trading between $66.64 and $68.22.

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