Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver May 21, 2020

USDCAD spot rate: 1.3910 - 1.3915 (as at 7:00am PST)

Technical Support / Resistance:

Key Economic Data Releases:

- U.S. Initial Jobless claims 2438k (2400k exp.) 2687k previous

- U.S. Markit mfg. 39.8 (38.0 exp.) 36.1 previous

- Philly Fed mfg. -43.1 (-41.5 exp.) -56.6 previous

Event Calendar:

U.S. stocks initially opened mostly lower but has clawed back to positive as investors shifted through weekly unemployment claims amid increased trade tension between America and China. Crude oil gained for a sixth consecutive session.

All three main U.S. equity gauges pared started in the red after a report showed another 2.44 million Americans claiming jobless benefits. Markets were already on the back foot after the Senate overwhelmingly passed a bill that could bar some Chinese companies from listing on U.S. exchanges. President Donald Trump stoked tensions by tweeting criticism of Xi Jinping's leadership, days before the biggest Chinese political gathering of the year.

Currently, the TSX is up 0.89% while the DJIA is up 0.15%. EURCAD is up 0.18% trading between 1.5206 and 1.5273. GBPCAD is down 0.31% trading between 1.7004 and 1.7089. JPYCAD is down 0.16% trading between 0.01288 and 0.01295. Gold is down 0.76% trading between $1,730 - $1,747USD/oz. Silver is down 1.27% trading between $17.09 - $17.48. Oil (WTI crude) is up 2.02% trading between $33.49 - $34.65.