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


USDCAD spot rate: 1.3215 - 1.3220 (as at 8:02am PST)

Ranges:

Asia:

1.3172

to

1.3189

Europe:

1.3183

to

1.3206

North America:

1.3191

to

1.3237

Technical Support / Resistance:

S2

S1

R1

R2

1.3115

1.3190

1.3240

1.3300

Key Economic Data Releases:

- Canada net employment change: -1,800 (exp 15,900 / prev 53,700)

- Canada unemployment rate: 5.5% (exp 5.5% / prev 5.5%)

- Canada average hourly wages: 4.36% (prev 4.25%)

- Canada housing starts: 202,000 (exp 221,200 / prev 221,100)

- Canada building permits: -6.5% (exp -2.0% / prev 5.6%)

- U.S. consumer sentiment index: 95.7 (exp 95.9 / prev 95.5)

Event Calendar:

Date

Canada

U.S.A.

Nov. 11

Nov. 12

Nov. 13

Nov. 14

Nov. 15

Remembrance Day

New housing price index

BOC Poloz speech

Veterans Day

CPI

PPI, jobless claims, Fed Powell speech

Retail sales, industrial production

Yesterday, USDCAD dropped from 1.3198 down to 1.3160 before climbing to hold near 1.3175 for the balance of the day. The USD has seen broad gains starting during yesterday's North American session. The USD index (DXY) has climbed from near 3 month lows at the beginning if the week towards a 3 week high. U.S. 10 year yields have surged to 1.93% - a 3 month high. The 10 year was as low as 1.45% in September during the low point of the U.S. / China trade war. Optimism over phase one of a trade deal has helped propel equity markets to historical highs. Markets are down slightly today as Trump has reportedly not yet decided if he will roll back tariffs (there were reports that tariffs would be rolled back by both sides yesterday). Canada's job numbers missed estimates this morning sending USDCAD from 1.3200 up to 1.3237 – near a 4 week high. The pairing has since fallen back towards 1.3210. Currently, the TSX is up 0.21% while the DJIA is down 0.38% – both holding near historical highs. EURCAD is unchanged trading between 1.4544 and 1.4601 – near 2 week lows. GBPCAD is up 0.20% trading between 1.6877 and 1.6969 – near 1 week highs. JPYCAD continues to hold near 6 month lows - up 0.37% trading between 0.01203 and 0.01212. Gold is down 0.20% trading between $1,456 and $1,473USD/oz while silver is down 1% trading between $16.70 and $17.13 – both near 3 month lows. Oil (WTI crude) is down 1.10% trading between $55.84 and $57.20 – near 1 week lows.

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