Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 1, 2018

USDCAD spot rate: 1.2952 - 1.2957 (as at 8:18am PST)

Ranges:

Asia:

1.2935

to

1.2968

Europe:

1.2930

to

1.2969

North America:

1.2947

to

1.3007

Technical Support / Resistance:

S2

S1

R1

R2

1.2820

1.2930

1.2985

1.3050

Key Economic Data Releases:

- U.S. non-farm payrolls: 223,000 (exp 188,000 / prev 159,000)

- U.S. unemployment rate: 3.8% (exp 3.9% / prev 3.9%)

- U.S. average hourly earnings m/m: 0.3% (exp 0.2%/ prev 0.1%) y/y: 2.7% (exp 2.7%/prev 2.6%)

- Canada Markit manufacturing index: 56.2 (exp 55.4 / prev 55.5)

- U.S. Markit manufacturing index: 56.4 (exp 56.6 / prev 56.6)

- U.S. ISM manufacturing index: 58.7 (exp 58.1 / prev 57.3)

Event Calendar:

Date

Canada

U.S.A.

June 4

June 5

June 6

June 7

June 8

Int'l merchandise trade, Ivey PMI

Net employment change, unemployment rate, housing starts

Factory orders

ISM non-manufacturing index

Trade balance

Wholesale inventories

Yesterday, in a 2nd consecutive volatile day, USDCAD initially declined from 1.2880 down to 1.2816 – an 8 session low before surging to 1.2990 – almost completely erasing Wednesday's down-move from 1.3040 to 1.2835. The pairing would eventually ease back towards 1.2950 in late trade. USDCAD dipped to 1.2930 overnight before climbing to 1.2981 ahead of the U.S. jobs report. The USD broadly strengthened ahead of the employment report after U.S. president Trump signaled a good report in an earlier tweet. Overall, the data was good and USDCAD popped quickly up to 1.3007 before falling to 1.2955 on subsequent USD weakness. The pairing has since bounced to test the 1.2985 level a few times before falling to session lows near 1.2945. Currently, the TSX is unchanged while the DJIA is up 0.83%. EURCAD is down 0.15% trading between 1.5092 and 1.5183 – near 4 month lows. GBPCAD is up 0.50% trading between 1.7164 and 1.7295 – near 4 month lows. JPYCAD is down 0.65% trading between 0.01181 and 0.01190 – near 2 month highs. Gold is down 0.28% trading between $1,289 and $1,301USD/oz., silver is up 0.16% trading between $16.31 and $16.47USD/oz., while oil is down 0.88% trading between $66.13 and $67.34.

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

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