Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver September 4, 2019


USDCAD spot rate: 1.3250 - 1.3255 (as at 9:00am PST)

Ranges:

Asia:

1.3316

to

1.3339

Europe:

1.3313

to

1.3340

North America:

1.3248

to

1.3335

Technical Support / Resistance:

S2

S1

R1

R2

1.3150

1.3200

1.3390

1.3440

Key Economic Data Releases:

- Canadian Int'l merchandise trade: $-1.12B (exp $-0.40B / prev $-0.06B)

- Bank of Canada interest rate: 1.75% (exp 1.75% / prev 1.75%)

https://www.bankofcanada.ca/2019/09/fad-press-release-2019-09-04/

- U.S trade balance: $-54.0B (exp $-53.5B / prev $-55.5B)

Event Calendar:

Date

Canada

U.S.A.

Sept 5

Sept 6

Net employment change, unemployment rate, Avg hourly wages

ADP employment change, ISM non-mfg

Non-farm payrolls, unemployment rate, Average hourly earnings

As expected, Bank of Canada maintained its target for the overnight rate at 1.75% and said that the current degree of monetary policy stimulus was appropriate. The USD/CAD pair tumbled to fresh session lows, breaking below the 1.33 handle, or weekly lows in a knee-jerk reaction to the latest BoC monetary policy update. Having consolidated in a narrow range trading band through the mid-European session, the pair met with some aggressive supply in the last hour after the announcement. Currently, the TSX is up 0.39% and the DJIA is up 0.80%. EURCAD is down 0.19% trading between 1.4600 and 1.4691. GBPCAD is up 0.10% trading between 1.6104 and 1.6278. JPYCAD is down 0.11% trading between 0.012545and 0.01259. Gold is down 0.17% trading between $1,533 and $1,549USD/oz, silver is down 0.11% trading between $19.18 and $19.59USD/oz, while oil (WTI crude) is up 3.98% trading between $53.89 and $56.20.

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