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


VBCE Daily Foreign Exchange Update for Wednesday, June 05, 2019

USDCAD spot rate: 1.3400 - 1.3405 (as at 7:55am PST)

Ranges:

Asia:

1.3373

to

1.3394

Europe:

1.3362

to

1.3393

North America:

1.3368

to

1.3407

Technical Support / Resistance:

S2

S1

R1

R2

1.3323

1.3358

1.3452

1.3510

Key Economic Data Releases:

- U.S. ADP employment change: 27k (exp 180k / prev 275k)

- U.S. ISM non-mfg: 56.9 (exp 55.5 / prev 55.5)

Event Calendar:

Date

Canada

U.S.A.

June 6

June 7

Int'l merchandise trade, Ivey PMI

Net employment change, unemployment %, Avg hourly wages

Trade balance

Non-farm payroll, unemployment rate, Avg hourly earnings

Treasuries rallied, while stocks trimmed gains as traders assessed mixed data from the world's largest economy. Oil tumbled as crude inventories delivered an unexpected build. The 10-year bond yield fell back below 2.1% as weak private jobs data outweighed a report showing service industries beat estimates. The Mexican peso rose after White House trade adviser Peter Navarro said that the Trump administration's plan to impose tariffs may not have to go into effect. Investors have aggressively increased bets the Fed will ease after a string of weak reports on retail sales, factory orders and home purchases indicated growth is slowing as the trade war weighs on businesses. While the service industries expansion report was robust, the ADP data suggest payroll gains in Friday's jobs report in the Labor Department could be lower than expected. "The weaker ADP report that just came out aligns with the drop in business sentiment we have been monitoring," said Matt Miskin, a market strategist at John Hancock. Investors will be watching the NFP report on Friday with anticipation to see if the jobs market is indeed starting to cool down. Currently, the TSX is up 0.01% and the DJIA is up 0.40%. EURCAD is up 0.07% trading between 1.5055 and 1.5127. GBPCAD is up 0.17% trading between 1.6974 and 1.7053. JPYCAD is up 0.17% trading between 0.01233 and 0.01240. Gold is up 0.66% trading between $1,325 and $1,344USD/oz, silver is up 0.71% trading between $14.78 and $15.04USD/oz, while oil (WTI crude) is down 2.51% trading between $51.65 and $53.39.

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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.