Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 9, 2017
USDCAD spot rate: 1.3435 - 1.3440 (as at 8:06am PST)
| Ranges: | Asia: | 1.3505 | to | 1.3530 |
| Europe: | 1.3501 | to | 1.3522 | |
| North America: | 1.3425 | to | 1.3518 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.3388 | 1.3425 | 1.3540 | 1.3575 |
Key Economic Data Releases:
- Canada net employment change: 54,500 (exp 15,000 / prev 3,200)
- Canada full time employment: 77,000 (prev -31,200)
- Canada unemployment rate: 6.6% (exp 6.6% / prev 6.5%)
- Canada participation rate: 65.8% (prev 65.6%)
- U.S. wholesale inventories: -0.5% (exp 0.2% / prev -0.3%)
Key Event Calendar:
| Date | Canada | U.S.A. |
| June 12 June 13 June 14 June 15 June 16 | Manufacturing sales | Producer price index CPI, retail sales, Fed interest rate decision Industrial production, Philadelphia Fed mfg index Building permits, housing starts, consumer sentiment |
Yesterday, USDCAD held an uneventful 1.3484 – 1.3522 range before spiking briefly to 1.3534/39 at 2:00pm on the release of the UK exit polls. The conservatives had fewer seats than expected and that sent the GBP down 2 cents. The ensuing USD strength was enough for a brief rally in USDCAD but the pairing returned towards the 1.3510 level. Overnight, USDCAD remained sidelined ahead of the Canadian job numbers. The data was extremely good – best job creation numbers in about 8 months sending USDCAD down towards the lows for the week (and a technical double-bottom) @ 1.3425. The GBPCAD rate dropped to 1.7091, its lowest level in nearly 2 months after having traded up near 1.7850 in early May. The bulk of the GBP losses came in late trade yesterday. Further downside was limited overnight on speculation that despite the uncertainties surrounding a "hung parliament", a softer Brexit may be more likely now. Overall, the GBP and the JPY are the worst performing currencies today while the CAD is the strongest. Currently, the TSX and the DJIA are up 0.28% and 0.52% respectively. EURCAD is down 1% trading between 1.5013 and 1.5158. GBPCAD is down 1.3% (nearly 2.5% from yesterday @ 2:00pm) trading between 1.7091 and 1.7331. JPYCAD is down 1.3% trading between 0.01213 and 0.01231. Gold is down 0.77% trading between $1,264.80 and $1,281.59USD/oz., silver is down 1.17% trading between $17.19 and $17.48USD/oz., while oil is up 0.72% trading between $45.29 and $45.92.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group
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