Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 3, 2019


USDCAD spot rate: 1.3475 - 1.3480 (as at 8:12am PST)

Ranges:

Asia:

1.3491

to

1.3524

Europe:

1.3481

to

1.3525

North America:

1.3457

to

1.3502

Technical Support / Resistance:

S2

S1

R1

R2

1.3380

1.3430

1.3557

1.3620

Key Economic Data Releases:

- Canada markit mfg PMI: 49.1 (exp 49.8 / prev 49.7)

- U.S. ISM mfg PMI: 52.1 (exp 53.0 / prev 52.8)

- U.S. markit mfg PMI: 50.5 (exp 50.6 / prev 52.6)

Event Calendar:

Date

Canada

U.S.A.

June 4

June 5

June 6

June 7

Int'l merchandise trade, Ivey PMI

Net employment change, unemployment %, Avg hourly wages

Factory orders

ADP employment change, ISM non-mfg

Trade balance

Non-farm payroll, unemployment rate, Avg hourly earnings

U.S. stocks rose as a rebound in oil prices lifted energy companies, outweighing a rout in tech giants prompted by a report that the government is considering antitrust investigations. Energy producers led gains in the S&P 500 Index as crude jumped after Saudi Arabia offered reassurance that OPEC will keep global markets in balance. The yield on two-year Treasuries headed for its biggest two-day decline since January 2008. After a brutal month for most asset classes except bonds, June began with no let-up in geopolitical risks and economic concern. China implemented retaliatory tariffs and data showed global factories took another knock last month from trade tensions, adding to fear over a slowdown. A U.S. manufacturing index fell to its lowest level in almost a decade amid a fresh warning from Wall Street about recession risks. Meanwhile, President Donald Trump's tariff moves against Mexico last week sparked a wave of forecast revisions. A global recession could start within 9 months if the U.S. imposes 25% tariffs on an additional $300 billion of Chinese exports and Beijing retaliates, according to Morgan Stanley. Separately, JPMorgan said the probability of a U.S. recession in the second half of this year had risen to 40% from 25% a month ago. Currently, the TSX is up 0.39% and the DJIA is up 0.44%. EURCAD is up 0.05% trading between 1.5071 and 1.5128. GBPCAD is down 0.16% trading between 1.7019 and 1.7113. JPYCAD is down 0.33% trading between 0.01242 and 0.01249. Gold is up 1.01% trading between $1,305 and $1,319USD/oz, silver is up 1.43% trading between $14.54 and $14.78USD/oz, while oil (WTI crude) is up 0.57% trading between $52.27 and $54.62.

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