Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 4, 2019

USDCAD spot rate: 1.3125 - 1.3130 (as at 8:40am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. trade balance: (delayed)

- U.S. factory orders: -0.6% (exp 0.2% / prev -2.1%)

- U.S. durable goods orders: 0.7% (exp 1.5%)

Event Calendar:

On Friday, the CAD was the top performing currency as U.S. employment data was mixed while oil prices surged towards 10 week highs. USDCAD dropped from 1.3160 down to 1.3069 – the lowest level since Nov. 7^th before climbing back to close the week at 1.3090. There was very little movement overnight as Chinese markets are closed all week for the Lunar New Year holiday. The USD is marginally stronger this morning across the board taking USDCAD up to 1.3146 despite slightly weaker than expected U.S. economic data. Oil prices have also given back Friday's gains. The pairing has since declined to 1.3118 and subsequently bounced back to 1.3135. Currently, the TSX is up 0.50% while the DJIA is unchanged. EURCAD is unchanged trading between 1.4973 and 1.5031 – near 2 month lows. GBPCAD is up 0.18% trading between 1.7072 and 1.7218 – near 2 week lows. JPYCAD is down 0.15% trading between 0.01190 and 0.01197 – near 6 week lows. Gold is down 0.26% trading between $1,309 and $1,319USD/oz – near 9 month highs, silver is down 0.16% trading between $15.69 and $15.92USD/oz – near 7 month highs, while oil is down 2% trading between $53.48 and $55.93 – near 2 month highs.

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