Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver July 6, 2018
USDCAD spot rate: 1.3095 - 1.3100 (as at 8:00am PST)
| Ranges: | Asia: | 1.3125 | to | 1.3152 |
| Europe: | 1.3121 | to | 1.3146 | |
| North America: | 1.3088 | to | 1.3149 |
Technical Support / Resistance:
| S2 | S1 | R1 | R2 |
| 1.3050 | 1.3088 | 1.3150 | 1.3180 |
Key Economic Data Releases:
- Canada net employment change: 31,800 (exp 24,000 / prev -7,500)
- Canada unemployment rate: 6.0% (exp 5.8% / prev 5.8%)
- Canada hourly earnings y/y: 3.5% (prev 3.9%)
- Canada int'l merchandise trade: -$2.77 billion (exp -$2.05 billion / prev -$1.86 billion)
- Canada Ivey purchasing managers index: 63.1 (exp 63.2 / prev 62.5)
- U.S. non-farm payrolls: 213,000 (exp 195,000 / prev 244,000)
- U.S. unemployment rate: 4.0% (exp 3.8% / exp 3.8%)
- U.S. average hourly earnings m/m: 0.2% (exp 0.3%/prev 0.3%) y/y: 2.7% (exp 2.8%/ prev 2.7%)
- U.S. trade balance: -$43.1 billion (exp -$43.70 billion / prev -$46.10 billion)
Event Calendar:
| Date | Canada | U.S.A. |
| July 9 July 10 July 11 July 12 July 13 | Housing starts, building permits Bank of Canada interest rate New housing price index | Producer price index Consumer price index Consumer sentiment index |
Yesterday, USDCAD held a 1.3112 – 1.3162 range spending most of the day near its opening and closing levels @ 1.3140. The pairing eased from 1.3152 down to 1.3130 ahead of the 5:30am employment reports. U.S. wage inflation data missed estimates while Canadian headline data beat estimates. USDCAD quickly dropped to 1.3088 – a 3week low on broad-based USD weakness. The move quickly reversed sending the pair up near session highs at 1.3149. Canadian wage inflation also eased lower off of its multi-year high while the bulk of jobs added were part-time (full-time = 9,100 / part-time = 22,700). The move higher also did not last as a 2% jump in oil prices this morning followed by sustained USD weakness has taken USDCAD back down to session lows again. Currently, the TSX and the DJIA are up 0.14% and 0.21% respectively. EURCAD is up 0.25% trading between 1.5348 and 1.5442 – near 1 week highs. GBPCAD is up 0.10% trading between 1.7332 and 1.7426 – near 1 month lows. JPYCAD is down 0.10% trading between 0.01185 and 0.01188 – near 3 week lows. Gold is unchanged trading between $1,252 and $1,259USD/oz., silver is down 0.26% trading between $15.95 and $16.06USD/oz., while oil is up 0.81% trading between $72.14 and $73.52 – near 4 year highs.
Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group
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