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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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