Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver August 6,2020


VBCE Daily Foreign Exchange Update for Thursday, August 6, 2020

USDCAD spot rate: 1.3285 - 1.3290 (as at 6:38am PST)

Ranges:

Asia:

1.3263

to

1.3308

Europe:

1.3234

To

1.3295

North America:

1.3233

to

1.3257

Technical Support / Resistance:

S2

S1

R1

R2

1.3150

1.3200

1.3376

1.3460

Key Economic Data Releases:

- U.S. Initial Jobless claims 1186k ((1415k exp.) 1435k previous

Event Calendar:

Date

Canada

U.S.A.

Aug 7

Net employment change, unemployment rate, Ivey purchasing managers index

Non-farm payrolls, unemployment rate

U.S. applications for unemployment benefits fell more than expected last week to the lowest since the pandemic started, in a broad decline across nearly all states, suggesting the labor market is improving.

Initial jobless claims in regular state programs fell by 249,000 to 1.19 million in the week ended Aug. 1, Labor Department data showed Thursday. The median forecast in a Bloomberg survey of economists called for 1.4 million. Stocks erased earlier declines after the figures.

Currently, the TSX is up 0.24% and the DJIA is up 0.10%. EURCAD is down 0.11% trading between 1.5720 and 1.5784. GBPCAD is up 0.37% trading between 1.7393 and 1.7524. JPYCAD is up 0.26% trading between 0.01255 and 0.01261. Gold is up 1.15% trading between $2,034 - $2,064USD/oz. Silver is up 5.00% trading between $26.79 - $28.45. Oil (WTI crude) is up 0.36% trading between $41.62 - $42.46.

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.