Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver March 7, 2019

USDCAD spot rate: 1.3430 - 1.3435 (as at 7:22am PST)

Ranges:

Asia:

1.3434

to

1.3447

Europe:

1.3430

to

1.3439

North America:

1.3414

to

1.3437

Technical Support / Resistance:

S2

S1

R1

R2

1.3280

1.3330

1.3475

1.3525

Key Economic Data Releases:

-U.S. Initial jobless claims 233k (225k exp.) 222k previous

-Canadian Building permits -5.5% (-5.0%exp.) 6.4% previous

Event Calendar:

Date

Canada

U.S.A.

Mar 8

Net employment change, unemployment rate

Non-farm payrolls, unemployment rate, Avg. hourly earnings

U.S. and European stocks slumped as investors fretted that the ECB's dovish turn didn't go far enough in light of policy makers' worsening concerns about the global economy. The euro fell to a four-month low.

The S&P 500 Index declined a fourth day, with financial shares among the worst performers in early trading. After an initial spike for the Stoxx Europe 600 when the European Central Bank pushed back guidance on rate hikes and announced a new series of long-term loans to support lenders, the gauge headed lower as details of the plan disappointed some traders. Treasuries advanced with European bonds, as the yield on Germany's 10-year notes dropped to the lowest since 2016. The dollar rose for a seventh day.

Currently, the TSX is down 0.26% and the DJIA is down 0.98%. EURCAD is down 0.70% trading between 1.5079 and 1.5212. GBPCAD is down 0.84% trading between 1.7581 and 1.7723. JPYCAD is down 0.34% trading between 0.01200 and 0.01204. Gold is down 0.93% trading between $1,280 and $1,289USD/oz, silver is down 0.54% trading between $14.97 and $15.12USD/oz, while oil is up 0.20% trading between $56.1 and $56.98.

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

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