Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver June 7, 2019


USDCAD spot rate: 1.3275 - 1.3280 (as at 8:09am PST)

Ranges:

Asia:

1.3346

to

1.3371

Europe:

1.3346

to

1.3366

North America:

1.3263

to

1.3364

Technical Support / Resistance:

S2

S1

R1

R2

1.3130

1.3260

1.3360

1.3430

Key Economic Data Releases:

- Canada net employment change: 27,700 (exp 8,000 / prev 106,500)

- Canada unemployment rate: 5.4% (exp 5.7% / prev 5.7%)

- Canada average hourly wages: 2.8% (prev 2.5%)

- U.S. non-farm payroll: 75,000 (exp 185,000 / prev 224,000)

- U.S. unemployment rate: 3.6% (exp 3.6% / prev 3.6%)

- U.S. average hourly earnings: 0.2% (exp 0.3% / prev 0.2%) y/y: 3.1% (exp 3.2%/prev 3.2%)

Event Calendar:

Date

Canada

U.S.A.

June 10

June 11

June 12

June 13

June 14

Housing starts, building permits

New housing price index

Producer price index

Consumer price index

Jobless claims

Retail sales, industrial production, consumer sentiment index


Yesterday, USDCAD initially climbed from 1.3410 up to 1.3430 before falling to hold near 1.3360 (near 6 week lows) for the balance of the session. The USD was broadly weaker on the day as equity markets gained for the 4th consecutive day erasing the entirety of last week's losses. The USD has broadly dropped today on the back of a weaker than expected employment report. The headline drastically missed while there was also a 75,000 negative revision to the prior two months of data. Canada added 27,700 jobs – all of them full-time while the unemployment rate fell to 5.4% - the lowest since 1976. USDCAD has fallen from 1.3364 down to 1.3263 – the lowest in 3 months. The USD index has fallen from near two year highs last week towards 2.5 month lows. Currently, the TSX and the DJIA are up 0.25% and 1.3% respectively. The DJIA has climbed 5 consecutive day and now trades near a 1 month high after having fallen to 5 month lows last week. EURCAD is down 0.10% trading between 1.5027 and 1.5080 – trading near 18 month lows. GBPCAD is down 0.15% trading between 1.6915 and 1.7021 – near 5 month lows. JPYCAD is down 0.25% trading between 0.01227 and 0.01235 – down from 5 month highs. Gold is up 0.75% near 1 year highs trading between $1,330 and $1,348USD/oz, silver is up 1.30% trading between $14.85 and $15.15USD/oz, while oil (WTI crude) is up 0.60% trading between $52.72 and $53.94 – near 5 month lows.

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