Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver January 2, 2019

USDCAD spot rate: 1.3600 - 1.3605 (as at 8:04am PST)

Ranges:

Asia:

1.3568

to

1.3657

Europe:

1.3572

to

1.3663

North America:

1.3573

to

1.3651

Technical Support / Resistance:

S2

S1

R1

R2

1.3500

1.3550

1.3675

1.3725

Key Economic Data Releases:

- No major data releases

Event Calendar:

Date

Canada

U.S.A.

Jan 3

Jan 4

Unemployment rate

Employment change, jobless claims, ISM manufacturing PMI

Unemployment rate

U.S. stocks slumped as investors began the new year anxious about the same issues that sent equities to the worst December rout since the Great Depression. Safe havens rallied, with gold and the yen higher. The S&P 500 Index retreated, with health-care and consumer shares under pressure on the first day of 2019. The latest blow to investor sentiment came from a weak reading on Chinese manufacturing, adding to concern that global growth is slowing. That overshadowed signs President Donald Trump may be willing to make a deal to end a government shut down. The risk-off tone that gripped markets in December remained in place to start 2019, with the threat of rising rates, an escalating trade war and slowing growth still looming. While Trump made positive noises about reaching a trade deal with his counterpart Xi Jinping over the weekend, the Chinese data are a stark example to investors that the protectionist showdown is starting to have an impact on economic activity. Currently, the TSX is down 0.39% while the DOW is down 0.66%. EURCAD is down 1.21% trading between 1.5408 and 1.5634. GBPCAD is down 1.35% trading between 1.7112 and 1.7385. JPYCAD is unchanged trading between 0.01240 and 0.01252. Gold is up 0.37 trading between $1,278 and $1,285USD/oz, silver is up 0.53% trading between $15.32 and $15.57USD/oz., while oil is up 3.07% trading between $44.36 and $46.81.

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

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