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


VBCE Daily Foreign Exchange Update for Monday, Oct. 7, 2019

USDCAD spot rate: 1.3305 - 1.3310 (as at 8:36am PST)

Ranges:

Asia:

1.3304

to

1.3331

Europe:

1.3289

to

1.3331

North America:

1.3295

to

1.3310

Technical Support / Resistance:

S2

S1

R1

R2

1.3205

1.3300

1.3342

1.3380

Key Economic Data Releases:

- No major data releases

Event Calendar:

Date

Canada

U.S.A.

Oct 8

Oct 9

Oct 10

Oct 11

Housing starts, building permits

New housing price index

Net employment change, unemployment rate, avg hourly wages

Producer price index

FOMC minutes

CPI, jobless claims

Consumer sentiment index

U.S. equity indexes erased losses as traders weighed the outlook for a trade deal between China and the Trump administration. European stocks gained with oil. Equities got a boost after White House adviser Larry Kudlow said the U.S. has no plans to delist Chinese companies, helping sentiment after a report that senior Chinese officials have indicated the range of topics they're willing to discuss at upcoming talks has narrowed considerably. The EUR edged higher for a 5th session while the GBP dipped as European leaders cast doubt on reaching a Brexit agreement in time for the U.K.'s Oct. 31 deadline. In the wake of a slew of weak data and with protectionism portrayed as the main impediment to global growth, investor focus will return to foreign trade this week as Chinese Vice Premier Liu He and an entourage of officials head to Washington to resume talks with their U.S. counterparts. As economic indicators flash warnings, traders have ramped up bets for further Federal Reserve rate cuts. They'll search for new clues on the policy path when minutes from the latest Fed meeting are released in coming days. Japanese equities closed little changed, while Shanghai markets are yet to re-open after holidays. Hong Kong was also shuttered for a holiday, leaving traders with limited options to respond, or not, to escalating violence in the city, where protesters set fires and vandalized train stations and banks over the weekend. The yuan dropped in offshore trading by the most since late September. Currently, the TSX is down 0.05% while the DJIA is down 0.07%. EURCAD is up 0.13% trading between 1.4599 and 1.4637. GBPCAD is down 0.12% trading between 1.6368 and 1.6423. JPYCAD is down 0.14% trading between 0.01242 and 0.01250. Gold is down 0.13% trading between $1,495 and $1,512USD/oz while silver is up 0.04% trading between $17.38 and $17.64. Oil (WTI crude) is up 1.74% trading between $52.63 and $54.05.

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

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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.