Daily Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver February 7, 2019

USDCAD spot rate: 1.3265 - 1.3270 (as at 7:13am PST)

Ranges:

Asia:

1.3201

to

1.3250

Europe:

1.3238

to

1.3260

North America:

1.3250

to

1.3283

Technical Support / Resistance:

S2

S1

R1

R2

1.3150

1.3200

1.3290

1.3330

Key Economic Data Releases:

- U.S. Initial jobless claims 234k (221k exp.) 253k previous

Event Calendar:

Date

Canada

U.S.A.

Feb 8

Housing starts, Net employment change

U.S. stocks fell while Treasuries rallied after concern mounted that a slowdown in the global economy is spreading at the same time investors remain on edge over threats ranging from a government shutdown to rising trade tensions and Brexit turmoil. The S&P 500 dropped the most in a week, and the Stoxx 600 snapped a seven-day rally as the European Commission downgraded its economic estimates. The dollar edged higher to extend its rally. Crude slumped below $54 a barrel in New York and the 10-year Treasury rate slipped to 2.66 percent. The pound reversed losses after the Bank of England left rates unchanged and cut its growth forecast for the U.K. economy. Earlier in Japan, shares fell amid a raft of corporate earnings.

Currently, the TSX is down 0.28% while the DOW is down 0.56%. EURCAD is down 0.14% trading between 1.5025 and 1.5096. GBPCAD is up 0.35% trading between 1.7057 and 1.7246. JPYCAD is up 0.33% trading between 0.01205 and 0.01211. Gold is up 0.18% trading between $1,302 and $1,312USD/oz, silver is up 0.02% trading between $15.64 and $15.74USD/oz, while oil is down 1.48% trading between $53.33 and $54.47.

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

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