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

VBCE Daily Foreign Exchange Update for Monday, Oct.01, 2018

USDCAD spot rate: 1.2810 - 1.2815 (as at 8:00am PST)

Ranges:

Asia:

1.2813

to

1.2864

Europe:

1.2786

to

1.2826

North America:

1.2801

to

1.2822

Technical Support / Resistance:

S2

S1

R1

R2

1.2650

1.2714

1.2976

1.3025

Key Economic Data Releases:

- Canada markit mfg PMI: 54.8 (exp 56.6/ prev 56.8)

- U.S. ISM mfg PMI: 55.6 (exp 55.6 / prev 55.6)

Event Calendar:

Date

Canada

U.S.A.

Oct 2

Oct 3

Oct 4

Oct 5

Ivey PMI

Int'l merchandise trade, net employment change, unemployment rate

ADP employment change, ISM non-mfg. PMI

Non-farm payrolls, unemployment rate, average hourly earnings, trade balance

U.S. stocks rose toward records and the USD slipped with Treasuries after negotiators agreed to a new version of the Nafta trade pact. The CAD and MXN each jumped 0.7 percent versus the USD. A measure of confidence returned to markets after American and Canadian representatives announced a trade deal to be known as the U.S. Mexico Canada Agreement, making modest revisions to the old Nafta framework. Details of the USMCA are sparse but the outlines suggest it mirrors agreements reached between the US/Mexico in the auto sector on foreign content and wages, concedes some ground to the US on dairy and strengthens the US IP protections marginally. In other good news for Canada, Shell is poised to announce a CAD 40B LNG project, reportedly Canada's largest ever infrastructure deal. Political drama in Washington still swirled around Donald Trump's Supreme Court nominee, but investors remained focus on a spate of corporate news and economic data due this week. Currently, the TSX is up 0.18% while the DOW is up 0.99%. EURCAD is down 1.07% trading between 1.4796 and 1.4932. GBPCAD is down 0.71% trading between 1.6662 and 1.6803. JPYCAD is down 1.02% trading between 0.01121 and 0.01130. Gold is down 0.27% trading between $1,184 and $1,192USD/oz., silver is down 0.82% trading between $14.37 and $14.68USD/oz., while oil is up 1.95% trading between $72.96 and $74.90.

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

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