Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 2, 2018

USDCAD spot rate: 1.2395 - 1.2400 (as at 7:36am PST)

Ranges:

Asia:

1.2257

to

1.2288

Europe:

1.2269

to

1.2320

North America:

1.2304

to

1.2400

Technical Support / Resistance:

S2

S1

R1

R2

1.2255

1.2305

1.2400

1.2490

Key Economic Data Releases:

- U.S. non-farm payrolls: 200,000 (exp 180,000 / prev 148,000 *revised to 160,000)

- U.S. unemployment rate: 4.1% (exp 4.1% / prev 4.1%)

- U.S. average hourly earnings y/y: 2.9% (exp 2.6% / prev 2.5% *revised to 2.7%)

- U.S. consumer sentiment index: 95.7 (exp 95.0 / prev 94.4)

Event Calendar:

Date

Canada

U.S.A.

Feb. 5

Feb. 6

Feb. 7

Feb. 8

Feb. 9

Int'l merchandise trade, Ivey PMI

Building permits

Housing starts

Net employment change

Markit / ISM non-manufacturing PMI

Trade balance

EIA Crude oil stocks change

Wholesale inventories

Yesterday, USDCAD initially climbed from 1.2292 up to 1.2333 before briefly falling to 1.2255 in afternoon trade – just shy of Wednesday's 5 month low of 1.2250. The pairing then climbed back to 1.2320 overnight amidst broad-based USD strength heading into the 5:30am U.S. employment report. The data was strong on all fronts with positive revisions to prior data including an 118,000 additional jobs created in 2017. A key point was that wage inflation really picked up – nearing 3%. The USD has surged across the board this morning with commodities and equity markets lower and U.S. 10 year yields at 2.85% - a new 4 year high. The USD had suffered broad losses this week but today's reversal has the USD along with the EUR as the best performing currencies on the week. Currently, the TSX and the DJIA are both down roughly 1.2%. EURCAD is up 0.30% trading between 1.5329 and 1.5420. GBPCAD is unchanged trading between 1.7476 and 1.7531. JPYCAD is up 0.15% trading between 0.01118 and 0.01123. Gold is down 1% trading between $1,327 and $1,350USD/oz., silver is down 2.50% trading between $16.74 and $17.25USD/oz., while oil is down 1.5% trading between $64.60 and $66.25.

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

083e3d7a6b

Follow us




Follow us on Twitter @vbcefx


Disclaimer


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.