Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver March 29, 2019

USDCAD spot rate: 1.3357 - 1.3362 (as at 8:40am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada GDP (Jan): 0.3% (exp 0% / prev -0.1%)

- U.S. personal income: 0.2% (exp 0.3% / prev -0.1%)

- U.S. personal spending: 0.1% (exp 0.3% / prev -0.6%)

- U.S. Chicago PMI: 58.7 (exp 61.0 / prev 64.7)

- U.S. new home sales change: 4.9% (exp 1.3% / prev 8.2%)

- U.S. consumer sentiment index: 98.4 (exp 97.8 / prev 97.8)

- U.S. core personal consumption expenditure price index m/m: 0.1% (exp 0.2% / prev 0.2%)

- U.S. core PCE price index y/y: 1.4% (prev 1.8%)

Event Calendar:

Yesterday, USDCAD initially climbed from 1.3400 up to 1.3442 before falling back to 1.3396. The pair then rallied to a 3 week high of 1.3451 before falling back to 1.3427. Over the past week, the range has been just 1 cent (1.3353 – 1.3451). The CAD is the best performing currency today (and now for the week as well) boosted by a solid GDP report, a break back above $60 in oil, and soft U.S. data. USDCAD dropped from 1.3424 down to 1.3341 with corrective bounces limited to 1.3370 thus far. Currently, the TSX is down 0.20% while the DJIA is up 0.57%. EURCAD is down 0.50% trading between 1.4989 and 1.5097 – near 1 week lows. GBPCAD is down 0.75% trading between 1.734197 and 1.7636 – near 5 week lows. JPYCAD is down 0.80% trading between 0.01203 and 0.01214–near 1 week lows. Gold is up 0.40% trading between $1,287 and $1,300USD/oz, silver is up 1.10% trading between $14.98 and $15.20USD/oz, both off 1 month lows. Oil (WTI crude) is up 0.70% trading between $59.50 and $60.78 – near 5 month highs.

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