Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver December 3, 2018

USDCAD spot rate: 1.3180 - 1.3185 (as at 8:30am PST)

Ranges:

Asia:

1.3168

to

1.3280

Europe:

1.3159

to

1.3201

North America:

1.3166

to

1.3194

Technical Support / Resistance:

S2

S1

R1

R2

1.3070

1.3120

1.3300

1.3360

Key Economic Data Releases:

- Canada Markit manufacturing PMI: 54.9 (exp 53.9 / prev 53.9)

- U.S. Markit manufacturing PMI: 55.3 (exp 55.4 / prev 55.4%)

- U.S. ISM manufacturing PMI: 59.3 (exp 57.5 / prev 57.7)

Event Calendar:

Date

Canada

U.S.A.

Dec 4

Dec 5

Dec 6

Dec 7

Bank of Canada interest rate

Int'l merchandise trade, Ivey PMI

Net employment change, unemployment rate

Markit services/ISM non-mfg PMI

ADP employment change

Non-farm payrolls, unemployment rate, average hourly earnings, consumer sentiment

Stocks climbed after the U.S. and China declared a truce in their trade war, while Treasuries and the USD fell. Oil surged on optimism producers will cut output. The Dow, Nasdaq and S&P were off their session highs, while European and Asian shares advanced following agreement by the leaders of the two countries to hold off on new tariffs and intensify trade talks. Stocks rose after President Donald Trump said that China will "reduce and remove" tariffs on imported American-made cars. The U.S. had been scheduled to push ahead on Jan. 1 with increased tariffs on $200 billion worth of Chinese goods. Ten-year Treasury yields rose back above 3% while the euro was stronger. Oil was jolted higher by efforts across the globe to support prices as Saudi Arabia and Russia extended their pact to manage the market and Canada's largest producing province ordered unprecedented supply cuts. Optimism was dented slightly after Qatar said it was leaving OPEC, just as the group prepares to meet this week. Elsewhere, the pound erased a gain as the threat of a vote to bring down British Prime Minister Theresa May's government looms should Parliament reject her Brexit deal. That raises the stakes even further as lawmakers begin debating her plan this week. China's yuan climbed with emerging market assets. Currently, the TSX is up 0.20% while the DOW is up 0.78%. EURCAD is down 0.42% trading between 1.4910 and 1.5042. GBPCAD is down 0.86% trading between 1.6719 and 1.6930. JPYCAD is down 0.80% trading between 0.01159 and 0.01167. Gold is up 0.96% trading between $1,221 and $1,234USD/oz., silver is up 2.5% trading between $14.14 and $14.56USD/oz., while oil is up 3.15% trading between $52.50 and $53.84.

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

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