Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 6, 2018

USDCAD spot rate: 1.2505 - 1.2510 (as at 7:36am PST)

Ranges:

Asia:

1.2525

to

1.2565

Europe:

1.2504

to

1.2565

North America:

1.2508

to

1.2535

Technical Support / Resistance:

S2

S1

R1

R2

1.2455

1.2500

1.2570

1.2625

Key Economic Data Releases:

- U.S. Trade Balance -53.1B (-52.0B exp.) -50.4B previous

- Canadian Merchandise Trade -3.19B (-2.20B exp.) -2.71B previous

- Canadian Ivey PMI 55.2 (61.0 exp.) 60.4 previous

Event Calendar:

Date

Canada

U.S.A.

Feb. 7

Feb. 8

Feb. 9

Building permits

Housing starts

Net employment change

EIA Crude oil stocks change

Wholesale inventories

All eyes are on Wall Street Tuesday, as the stock market opened lower but has since recovered, temporarily allaying fears of a continued meltdown. The Dow dropped a stunning 1,175 points on Monday building on losses from a week ago as investors and Main Street received mixed signals about the economy. The market had made huge gains in the first year of the Trump administration and was up more than 40 percent at one point. But the sea of red washed away all of 2018's gains. Currently, the TSX is down .76% and the DJIA is up 1.00%. EURCAD is down 0.30% trading between 1.5427 and 1.5571. GBPCAD is down .75% trading between 1.7356and 1.7531. JPYCAD is down 0.55% trading between 0.01144 and 0.01157. Gold is down 1% trading between $1,330 and $1,346USD/oz., silver is down 0.80% trading between $16.65 and $16.99USD/oz., while oil is down 1.9% trading between $63.13 and $64.23

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

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