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)

Ranges:

Asia:

1.3084

to

1.3100

Europe:

1.3085

to

1.3109

North America:

1.3108

to

1.3146

Technical Support / Resistance:

S2

S1

R1

R2

1.3050

1.3085

1.3160

1.3210

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:

Date

Canada

U.S.A.

Feb 5

Feb 6

Feb 7

Feb 8

Int'l merchandise trade

Housing starts, Ivey PMI

Net employment change

Non-manufacturing PMI

Unit labour costs, non-farm productivity

Consumer sentiment index

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. 7th 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

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