Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 4, 2018


USDCAD spot rate: 1.3226 - 1.3231 (as at 8:08am PST)

Ranges:

Asia:

1.3283

to

1.3299

Europe:

1.3261

to

1.3292

North America:

1.3218

to

1.3279

Technical Support / Resistance:

S2

S1

R1

R2

1.3170

1.3210

1.3310

1.3375

Key Economic Data Releases:

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

- U.S. ADP employment: 67k (exp 140k / prev 121k)

- U.S. ISM non-mfg PMI: 53.9 (exp 54.5 / prev 54.7)

Event Calendar:

Date

Canada

U.S.A.

Dec. 5

Dec. 6

Int'l merchandise trade, Ivey PMI

Net employment change, unemployment rate, wage inflation

Trade balance

Non-farm payrolls, unemployment rate, wage inflation

The Bank of Canada said there's evidence the global economy is stabilizing, while the domestic economy remains resilient, in an interest rate decision Wednesday that gave little indication policy makers are in a rush to lower borrowing costs. The Bank of Canada held its policy rate at 1.75% for a ninth consecutive meeting, retaining language from its previous statement that it judges the current interest rate is "appropriate." The prolonged pause has left Canada with the highest policy rate among advanced economies. The decision showcases a central bank still comfortable with its wait-and-see stance. In the statement, the central bank said the October projection for a recovery in global growth "appears to be intact," even as ongoing international trade disputes remain the biggest source of risk. It also continued to characterize domestic economic conditions as resilient. Currently, the TSX is up 0.19% and the DJIA is up 0.71%. EURCAD is down 0.34% trading between 1.4664 and 1.4741. GBPCAD is up 0.43% trading between 1.7258 and 1.7395. JPYCAD is down 0.53% trading between 0.01214 and 0.01225. Gold is down 0.26% trading between $1,471 and $1,484USD/oz while silver is down 1.91% trading between $16.80 and $17.29. Oil (WTI crude) is up 3.82% trading between $56.29 and $58.29.

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