Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver April 8, 2019

USDCAD spot rate: 1.3323 - 1.3328 (as at 7:57am PST)

Ranges:

Asia:

1.3368

to

1.3390

Europe:

1.3339

to

1.3385

North America:

1.3318

to

1.3345

Technical Support / Resistance:

S2

S1

R1

R2

1.3250

1.3300

1.3400

1.3445

Key Economic Data Releases:

- Canada housing starts: 192.5K (exp 196.5K / prev 166.3K)

- Canada building permits: -5.7% (exp 1.3% / prev -6.0%)

- U.S. factory orders: -0.5% (exp -0.6% / prev 0.0%)

Event Calendar:

Date

Canada

U.S.A.

Apr 9

Apr 10

Apr 11

Apr 12

New housing price index

Consumer price index, FOMC minutes

Producer price index

Consumer sentiment index

U.S. stocks halted the longest rally since 2017 as investors awaited signs of progress in the trade war with China ahead of the latest corporate earnings season. Treasuries dropped, while West Texas crude hit a five-month high. The S&P 500 edged toward its first decline in eight sessions, as the post-Christmas rally stalled with the index about 1.5% from reclaiming its all-time high. Energy producers paced gains amid rising oil prices and the USD fell. Following a stellar first quarter across many asset classes, investors are assessing prospects for further gains as the U.S-China seem unable to come to a final decision on trade and earnings season gets underway. Despite a lack of details emerging from last week's discussions, Trump economic adviser Larry Kudlow said the two sides are closer to a deal, and that top-tier officials would be talking this week. A better U.S. jobs report Friday didn't stop President Trump from suggesting the Fed should cut interest rates. Elsewhere, the pound edged higher as British Prime Minister Theresa May appealed to both the public and politicians in search of support for a compromise Brexit plan. Currently, the TSX is down 0.16% and the DJIA is down 0.40%. EURCAD is down 0.01% trading between 1.4994 and 1.5052. GBPCAD is down 0.45% trading between 1.7375 and 1.7486. JPYCAD is down 0.18% trading between 0.01195 and 0.01201. Gold is up 0.68% trading between $1,291 and $1,303USD/oz, silver is up 1.07% trading between $15.07 and $15.29USD/oz. Oil (WTI crude) is up 1.95% trading between $63.15 and $64.38.

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

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