Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 5, 2020


USDCAD spot rate: 1.3290 - 1.3295 (as at 8:02am PST)

Ranges:

Asia:

1.3280

to

1.3300

Europe:

1.3263

To

1.3301

North America:

1.3280

to

1.3304

Technical Support / Resistance:

S2

S1

R1

R2

1.3190

1.3233

1.3320

1.3370

Key Economic Data Releases:

- Canadian Int'l merchandise trade: $-0.4B (exp $-0.61B / prev $-1.2B)

- U.S. ADP employment change: 291k (exp 156k / prev 199k)

- U.S. trade balance: $-4.89B (exp $-48.2B / prev $-43.7B)

Event Calendar:

Date

Canada

U.S.A.

Feb. 6

Feb. 7

Net employment change, unemployment rate, Avg. hourly wages, Ivey PMI

Non-farm payrolls, unemployment rate, Avg. hourly earnings

U.S. stocks pared gains after a torrid rally took them within a whisker of records, with investors watching developments in efforts to battle the coronavirus. Crude oil rallied after tumbling into a bear market. The S&P 500's 3-day gain topped 3% before concern mounted that the run had gone too far given the still-uncertain economic impact from the deadly virus. Sentiment had gotten a boost overnight after a string of reports on possible vaccines or treatments for the deadly pathogen, but the World Health Organization later said there are no proven therapeutics. Treasuries retreated, sending 10-year yields above 1.63%, even as more quarantines were announced in an effort to control the virus. West Texas crude headed for its first gain in 6 sessions. Havens including the yen and Swiss franc slipped. The dollar edged higher as data showed U.S. firms added more jobs than economists' forecasts in January. Investors are riding optimism amid a better-than-forecast corporate earnings season while weighing warnings about the impact of the illness and the latest reports on containing the virus. United Airlines and American Airlines both suspended flights to Hong Kong for a time due to a drop in demand. More central banks signaled a willingness to act if the virus undermines demand, inflation and financial markets. Currently, the TSX is up 0.61% and the DJIA is up 0.79%. EURCAD is down 0.34% trading between 1.4613 and 1.4686. GBPCAD is down 0.27% trading between 1.7222 and 1.7355. JPYCAD is down 0.21% trading between 0.01208 and 0.01215. Gold is up 0.14% trading between $1,547 and $1,562USD/oz. Silver is down 0.01% trading between $17.48 and $17.72. Oil (WTI crude) is up 3.50% trading between $49.74 and $51.71.

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