USDCAD spot rate: 1.3119 - 1.3124 (as at 7:51am PST)
Ranges: | Asia: | 1.3063 | to | 1.3085 |
Europe: | 1.3057 | to | 1.3116 | |
North America: | 1.3109 | to | 1.3144 |
Technical Support / Resistance:
S2 | S1 | R1 | R2 |
1.2970 | 1.3034 | 1.3100 | 1.3188 |
Key Economic Data Releases:
- US ADP Employment 173k (exp 175K) previous 175K
Key Event Calendar:
Date | Canada | U.S.A. |
June 3 | Trade balance | Non-farm payrolls, unemployment rate, avg. hourly earnings, trade balance, ISM non-mfg |
US employment number from ADP came out pretty much as expected. Meanwhile Opec countries failed to agree upon production cuts and as a result oil dropped 1.8% to the low of the day. In Europe the ECB nudged up its expectations for growth and inflation in the Eurozone this year, but kept its main interest rate unchanged in negative territory and said it would press on with its unprecedented stimulus effort. The main event risk still outstanding for today is the US oil inventories report that will come out shortly. Currently the TSX is up 0.14% and the Dow is trading lower, down by 0.17% . EUROCAD is up 0.09% trading between 1.4618 and 1.4707. GBPCAD is up 0.56% trading between 1.8840 and 1.8994. JPYCAD is up 1.04% trading between 0.01194 and 0.01209. Gold is down 0.03% trading between $1211 and 1218 USD/oz, Silver is up 0.25% trading between $15.92 and $16.05USD/oz, while oil is down 1.54% trading between $48.00 and 49.45USD/barrel.USD
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive