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)

Technical Support / Resistance:

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:

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.