Daily Fx Report for June 3rd, 2016

VBCE Daily Foreign Exchange Update for Friday, June 3, 2016

USDCAD spot rate: 1.3060 - 1.3065 (as at 7:57am PST)

Ranges:

Asia:

1.3086

to

1.3109

Europe:

1.3080

to

1.3101

North America:

1.2916

to

1.3080

Technical Support / Resistance:

S2

S1

R1

R2

1.2923

1.2970

1.3080

1.3127

Key Economic Data Releases:

- CAD trade balance -2.94 Billion (-2.45expected) -3.18B previous - US Unemployment rate 4.7 (4.9 exp) 5 prev.

- ISM Non-Mfg. PMI 52.9 (55.5 exp) 55.7 prev. - Non farm Payrolls 38k (164exp) 123k prev.

-Trade Balance -37.4 Billion (- 41.3 B exp) -35.5 previous

- Average hourly earnings .2% (.2% exp)

.4% previous

Key Event Calendar:

Date

Canada

U.S.A.

June 6

June 7

Ivey Purchasing Managers Index

Non Farm Productivity

June 8

Housing starts, Building Permits

June 9

Cap. Utilization Q1, New Housing

Initial Jobless Claims, Wholesale Inventories

Price Index

June 10

Unemployment rate, Net change in

Michigan Consumer Sentiment Index

employment

The dominant news today is the shocking US jobs report. A miss of more than 100k has roiled the FX markets feeding into speculation that this one report could stop the US Federal Reserve in its tracks from any near term interest rate hikes. What was once a 50-50 proposition of a summer hike has now plummeted to near zero.!!!. Currently the TSX is up 0.12% and the Dow is trading lower, down by 0.28% . EUROCAD is up 0.44% trading between 1.4581 and 1.4699. GBPCAD is down 0.38% trading between 1.8793 and 1.8910. JPYCAD is up 0.67% trading between 0.01200 and 0.01214. Gold is up 2.4% trading between $1207 and 1243 USD/oz, Silver is up 2.25% trading between $15.97 and $16.45USD/oz, while oil is down 0.70% trading between $48.43 and 49.38USD/barrel.USD

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive

Please contact the VBCE trading desk at 604-685-1016 for more information on our corporate foreign exchange and wire payment services. ** To unsubscribe to this Daily Update, please email stevebrown@vbce.ca.

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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.