Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 6, 2019


VBCE Daily Foreign Exchange Update for Monday, May 06, 2019

USDCAD spot rate: 1.3450 - 1.3455 (as at 8:11am PST)

Ranges:

Asia:

1.3463

to

1.3495

Europe:

1.3465

to

1.3493

North America:

1.3466

to

1.3478

Technical Support / Resistance:

S2

S1

R1

R2

1.3330

1.3387

1.3520

1.3575

Key Economic Data Releases:

- No major data releases

Event Calendar:

Date

Canada

U.S.A.

May 7

May 8

May 9

May 10

Ivey purchasing managers index

Housing starts

Int'l merchandise trade

Net employment change, % rate, average hourly wages, bldg. permits

Producer price index, trade balance

CPI

Equities slumped globally and Treasuries rallied after President Donald Trump's threat to increase tariffs on Chinese imports called into question the chances of a resolution to the trade war. The S&P 500 index tumbled by the most since March before paring losses, signaling a potentially volatile week on Wall Street. From JD.com and Skyworks to Apple and Caterpillar, tech companies with China exposure and machinery companies, which are seen as proxies for the trade war, were among the biggest decliners in early trading. The VIX gauge of stock volatility headed for its biggest increase this year. Seeking to ramp up pressure on China for more concessions, Trump threatened in two tweets to more than double tariffs on $200 billion of Chinese goods and impose a fresh round of duties on top of that. Talks to resolve the year-long trade standoff appeared to be on life-support Monday, with Beijing struggling to fully respond. China's foreign ministry said that officials were still planning to travel to the U.S. for the next round of negotiations, but it was unable to confirm when amid signs that a delay is now being considered. Currently, the TSX is down 0.60% and the DJIA is down 1.03%. EURCAD is up 0.35% trading between 1.5022 and 1.5101. GBPCAD is down 0.26% trading between 1.7625 and 1.7728. JPYCAD is up 0.53% trading between 0.01213 and 0.01221. Gold is down 0.01% trading between $1,277 and $1,285USD/oz, silver is down 0.25% trading between $14.75 and $14.97USD/oz, while oil (WTI crude) is down 0.58% trading between $60.04 and $61.90.

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