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

USDCAD spot rate: 1.3310 - 1.3315 (as at 8:06am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- Canada int'l merchandise trade: -$0.96 billion (exp -$1.00 billion / prev -$1.38 billion)

- Canada Ivey purchasing managers index: 48.7 (exp 54.3 / prev 60.6)

- U.S. non-farm payrolls: 136,000 (exp 145,000 / prev 168,000 *revised from 130,000)

- U.S. unemployment rate: 3.5% (exp 3.7% / prev 3.7%)

- U.S. avg hourly earnings m/m: 0% (exp 0.3% / prev 0.4%) y/y: 2.9% (exp 3.2% / prev 3.2%)

- U.S. trade balance: -$54.9 billion (exp -$54.5 billion / prev -$54.0 billion)

Event Calendar:

Yesterday, USDCAD climbed from 1.3320 up to 1.3347 (highest since June 19^th with the exception of Sept. 2 and 3^rd that saw brief rallies to 1.3360 and 1.3380 respectively). Overnight, the USD broadly weakened heading into the release of the U.S. jobs report taking USDCAD down to 1.3310. The report was mixed with the unemployment rate falling to a 50 year low and prior data revised higher by 38,000 jobs. However, wage inflation was weak – a signal that the U.S. Fed could lower interest rates further. U.S. 10 year yields are down to 1.52% (near 3 year lows) from 1.90% 3 weeks ago while equity markets and commodities have rallied higher on the results. USDCAD dipped to 1.3298 but has since climbed back to 1.3320. Currently, the TSX is unchanged while the DJIA is up 0.65%. EURCAD is unchanged trading between 1.4577 and 1.4645 – near a 2 week high after having traded near a 30 month low on Wednesday. GBPCAD is down 0.45% trading between 1.6329 and 1.6493 – down from 2 week highs. JPYCAD is down 0.15% trading between 0.01241 and 0.01248 – near 5 week highs. Gold is up 0.11% trading between $1,496 and $1,511USD/oz – near 2 week highs while silver is unchanged trading between $17.31 and $17.65. Oil (WTI crude) is up 1.30% trading between $52.47 and $53.51 after having fallen towards 2019 lows yesterday.