Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver April 5, 2019


VBCE Daily Foreign Exchange Update for Friday, April 5, 2019

USDCAD spot rate: 1.3385 - 1.3390 (as at 8:36am PST)

Ranges:

Asia:

1.3350

to

1.3368

Europe:

1.3348

to

1.3386

North America:

1.3358

to

1.3403

Technical Support / Resistance:

S2

S1

R1

R2

1.3250

1.3300

1.3400

1.3445

Key Economic Data Releases:

- Canada net employment change: -7,200 (exp 1,000 / prev 55,900)

- Canada unemployment rate: 5.8% (exp 5.8% / prev 5.8%)

- Canada average hourly wages: 2.32% (prev 2.25%)

- U.S. non-farm payrolls: 196,000 (exp 180,000 / prev 33,000)

- U.S. unemployment rate: 3.8% (exp 3.8% / prev 3.8%)

- U.S. average hourly earnings m/m: 0.1% (exp 0.3%/prev 0.4%) y/y: 3.2% (exp 3.4%/prev 3.4%)

Event Calendar:

Date

Canada

U.S.A.

Apr 8

Apr 9

Apr 10

Apr 11

Apr 12

Housing starts, building permits

New housing price index

Factory orders

Consumer price index, FOMC minutes

Producer price index

Consumer sentiment index

Yesterday, USDCAD held a narrow 1.3343 – 1.3373 range – just below the weekly high and broken support level from last week. The pairing broke above the weekly high to 1.3386 ahead of this morning's release of the Canadian and U.S. jobs report. USDCAD initially dropped to 1.3358 before bouncing to 1.3403. The pairing has since moved back down to 1.3367 and bounced to 1.3385. The jobs data was mixed (U.S. recovered in the headline numbers but wage inflation was weak while Canada saw a minor loss after very strong gains previously while wage inflation climbed). The GBP initially gained on the day on reports that European Council president Tusk was proposing a 12 month Brexit extension. UK PM May later requested a Brexit extension to June 30th. The GBP has subsequently declined and is the worst performing currency on the day. Currently, the TSX and the DJIA are higher on the day by about 0.40% - near 6 month highs. EURCAD is unchanged trading between 1.4984 and 1.5061 – near 1 week highs. GBPCAD is down 0.35% trading between 1.7392 and 1.7529 – near 6 week lows. JPYCAD is unchanged trading between 0.01196 and 0.01198 – near 1 month lows. Gold is unchanged trading between $1,284 and $1,294USD/oz, silver is unchanged trading between $15.07 and $15.21USD/oz, both near 1 month lows. Oil (WTI crude) is up 0.50% trading between $61.88 and $62.69 – near 5 month highs.

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

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